Gasoline Consumption Up 5%

EghtesadOnline: Iranians consumed an average of 79 million liters per day of gasoline in roughly seven months, up 5.3% compared with the corresponding period of the last fiscal year (ended March 20, 2017).

News ID: ۷۴۴۱۳۰

23 October 2017

The country’s use of the strategic fuel between March 21 and October 20 averaged 79 million liters per day, around 4 million liters higher than the same period of last year, ISNA reported.

Gasoline consumption in the first half of the current fiscal reached an average of 81.7 million liters per day, an increase of nearly 8% compared with the corresponding figure of last year (75.4 ml/d). In the six-month period, more than 15.19 billion liters of gasoline were consumed collectively.

Reportedly, domestic consumption of the fuel hit 104.6 million liters on Sept. 23, the highest level in a single day so far this year. Iran’s all-time daily consumption record, 105.9 million liters, was set on March 31, 2016, during the annual Norouz (New Year) holidays, Financial Tribune reported.

According to Mohammad Reza Mousavikhah, a deputy at the National Iranian Oil Products Distribution Company, gasoline consumption increased due to post-sanctions economic prosperity and an increase in automobile production and import.

"Consumption was forecast to increase by 5.5%" in the seven-month period over last year's corresponding period.

Ali Mahmoudian, the head of Alternative Fuels Union, said in August that cutting the price of compressed natural gas for domestic consumers is imperative to reduce gasoline consumption and imports, despite the rise in fuel production in recent months.

“The share of CNG among fuels for transportation is between 21% and 23%, but it can increase to 45-50% if consumers are encouraged to use more of the clean fuel by giving incentives such as price cut,” Mahmoudian added.

Iran has the capacity to supply over 40 million cubic meters of compressed natural gas per day, nearly half of which is idle.