TEHRAN – Iran’s cabinet plans to submit a bill to Majlis (parliament) on allocation of 1.5 billion dollars for gasoline import.

The three-month delay in gasoline rationing plan prompted the Petroleum Ministry and the government to introduce the bill.
Considering the current gasoline price in international markets, over 1.5b dollars is needed to import 15m liters of commodity per day, the supply and distribution general director of National Iranian Oil Products Distribution Company (NIOPDC) told MNA.
There are no worries about gasoline stockpiles, Ali Farahani added, speculating a need for the fund to compensate for the three-month postponement.
Along with the 47m liters of gasoline produced by the country’s refineries per day, a daily 15m liters is required to be imported to cover the consumption, he said.
The Petroleum Ministry has announced that the 2.5b dollar fund the 2007-8 budget law earmarked for gasoline import has reached its end