TEHRAN- Consumption of gasoline in Iran is forecast to increase 8.8-9 percent to hit 87.8 million liters per day in the upcoming Iranian calendar year (starts on March 21), managing director of National Iranian Oil Products Distribution Company (NIOPDC) announced.

In a press conference on Saturday, Mohammad-Reza Mousavikhah said that gasoline consumption in the country stood at 80.3 million liters per day in the current calendar year, with eight percent rise from the preceding year, Shana news agency reported.

In mid-December last year, Oil Minister Bijan Namdar Zanganeh said Iran will reach a stable status in gasoline production once the second phase of Persian Gulf Star Refinery comes on stream.

The refinery in the southern province of Hormozgan is the first of its kind designed based on gas condensate feedstock.

Planned to have a total crude oil processing capacity of 360,000 barrels per day, Persian Gulf Star is projected to be complete by the end of the next Iranian calendar year 1397 (March 20, 2019).

Once fully operational, the refinery will add over 36 million liters of Euro-4 and Euro-5 quality gasoline to the country’s gasoline production capacity to increase it to 100 million liters per day.

MA