Iran introduced a new pricing tier on Saturday for its nationally subsidised gasoline, attempting to rein in spiralling costs for the first time since a price hike in 2019 that sparked nationwide protests and a crackdown that reportedly killed over 300 people. Cheap gasoline has been viewed for generations as a birthright in Iran, sparking mass demonstrations as far back as 1964 when a price increase forced the shah to put military vehicles on the streets to replace those of striking taxi drivers.But Iran’s theocracy faces a growing squeeze from the country’s rapidly depreciating rial currency and economic sanctions imposed due to Tehran’s nuclear program. That has made the cost of having some of the world’s cheapest gasoline at a few pennies per gallon that much more expensive.
