‘Gasoline price hike doesn’t entail any increase in commodity prices’

November 16, 2019 - 17:24

TEHRAN – Iranian Industry, Mining and Trade Minister Reza Rahmani said any increase in commodity prices on the pretext of gasoline price hike is illegal, Shana reported.

Stressing the fact that transportation of goods is generally carried out by diesel-powered cars, Rahmani said the increase in gasoline prices doesn’t entail any increase in other commodity prices.

According to the official, government agencies and market regulators do not have the right to raise prices and in case of doing so, their licenses will be revoked.

“Any increase in the price of goods is a violation of the law and our inspectors are closely monitoring the market,” the minister stressed.

He noted that necessary arrangements have been made for controlling the market and there is no worry about the supply of basic goods.

“We have stored basic goods for up to six months of consumption, and even for some industrial goods our stocks will last for up to two years,” he said.

Rahmani further mentioned the increase in domestic production of various commodity groups, saying production of industrial goods in the first six months of the current [Iranian calendar] year (March 21-September 22) increased compared to the past year’s same period. 

“In the food industry, we have witnessed a 15-percent increase in production. In mining and steel, we also experienced a 6.5-percent increase in production,” he added.

EF/MA

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