January 10, 2020
In 2018, Iran spent more money subsidizing the sale of gasoline and other fuels than any other country in the world, according to the Paris-based International Energy Agency (IEA). It said Iran spent the equivalent of $69.2 billion subsidizing fuel sales. That was more than half again as much as Number Two Saudi Arabia ($44.72 billion) and Number Three China ($44.44 billion). Iran’s subsidies accounted for 16 percent of all fuel subsidies throughout the world. And the 2018 subsidies accounted for 15.3 percent of Iran’s gross domestic product (GDP). Those numbers help explain why Iran raised gasoline prices in November.
