Iran, a major oil exporter, imports 40 percent of its gasoline because of high consumption and limited refining capacity. While gasoline costs about $2 a gallon on world markets, the government sells it for 34 cents, a subsidy that costs it about $5 billion a year.And Kitchen Linker thought NoPigou was bad...
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Thursday, July 05, 2007
Iran, Low on Gasoline, to Be Supplied by Venezuela: