business ⛽ Iran hints at fuel price hike amid sanctions ⛽
The Iranian government is preparing the public for an upcoming fuel price increase to support its struggling economy. This move is taking place in Tehran amidst ongoing economic pressure from US sanctions and the war's effects. The IMF projects Iran's GDP will contract by 5.4 percent in 2026, while the rial hit a low of 2 million per dollar. The government faces options ranging from shutting down pumps to liberalizing prices to 872,000 rials per litre. A final decision on these complex measures is expected in the coming weeks.