Iran's energy sector review

Iranian government raised the price of some oil productions and gas production rapidly during the last three days. The price of kerosene rose by 44.3 percent, fuel oil by 20 percent, liquefied petroleum gas (LPG) by 210 percent on April 2, while the price of gas increased by 20 percent three days before. The steep increase in prices for energy products happened while the Iranian government had announced repeatedly that the rise of energy prices would be slow to prevent economic shocks, inflation growth and unbearable pressure on customers. The inflation rate in Iran is 32.1 percent. The budget law for the new Iranian year, started on March 21, allows the government to increase revenues by raising last year's energy prices from 388 trillion rials ($14.9 billion based on official USD rate) to $18.82 billion this year. Iran's refineries process above 650 million barrels of oil annually and roughly all of the produced fuels are consumed inside the country, while Irani