Iran’s government signals fuel price hike on eve of new US sanctions

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The Iranian government is preparing the public for another increase in fuel prices as it attempts to buoy the country’s ailing economy, Al Jazeera reports.

With the economic impact of the war continuing, the offer of heavily subsidised fuel to the country’s 93 million population is a burden that the government is struggling to afford.

The International Monetary Fund predicts that Iran’s gross domestic product (GDP) will contract by 5.4 per cent in 2026.

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