The Straits Times World News
· collected 2026-09-06 · by The Straits Times
Iran's government announced on September 6 that it would raise the price of petrol for heavier consumers, increasing the cost per litre from 5,000 tomans to 10,000 tomans (approximately 5.7 Singapore cents) for those consuming more than 110 litres in a month. The price hike is set to take effect on September 8 and is part of a three-tier quota system that already prices petrol at 1,500 and 3,000 tomans per litre for lighter consumers. Iran's currency has been trading at a record low on the black market, with over 2.2 million rials equivalent to one US dollar, due in part to economic sanctions imposed by the US since 2018. The price increase is seen as a move to offset the effects of these sanctions.
Written by the local model on 2026-09-07,
using this article's own text rather than the other coverage of the
same event (that is the story summary below).
Story summary
The Iranian government announced on September 6 that it will raise the price of petrol for heavier consumers, as part of its efforts to isolate the country's economy under US economic pressure. The move affects only the third tier, which is priced at *10,000 tomans* (approximately *5.7 Singapore cents*) per liter, a significant increase from the previous rate of 5,000 tomans per liter. This change will take effect on September 8. The government spokeswoman, Fatemeh Mohajerani, clarified that only the third tier price is being increased, and that the prices for the first two tiers, which cover the first 110 liters consumed in a month, will remain unchanged.
Written for “Iran Economic Sanctions Impact” on 2026-09-07,
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Leaning score +0.35 for article 5993 (high confidence, 1 verified quote) · logged 2026-09-07
Iran raises price of petrol as US applies economic pressure
TEHRAN –
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US → raise → pressure
The Iranian authorities on Sept 6 announced they were raising the price of petrol for heavier consumers, as the United States steps up sanctions seeking to isolate the country’s economy.
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States → announce → economy
Iran’s quota system prices petrol in three tiers – 1,500 tomans per litre for a consumer’s first 60 litres in a given month, 3,000 tomans per litre for their next 50, and 5,000 tomans per litre after that.
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system → price → that
On Sept 6, government spokeswoman Fatemeh Mohajerani said the price for the third tier would double to 10,000 tomans (about 5.7 Singapore cents).
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price → say → tomans
“The rate will increase to 10,000 toman rials from the morning of Sept 8,” Mohajerani said in remarks carried by state media.
“Different numbers were mentioned in expert meetings, but because the President had promised the people, the rate of 10,000 tomans was set,” she added.
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she → increase → tomans
She later clarified that the price of the first and second tiers would not be changed.
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price → clarify → tiers
Iran, a major oil producer with some of the world’s cheapest fuel, has for years heavily subsidised petrol, making any changes to pricing politically sensitive.
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changes → subsidise → pricing
The development comes as the Iranian currency was trading on the black market on Sept 6 at more than 2.2 million rials to the US dollar, according to websites that track the rate.
uncertain
that → come → rate
Before the start of the Middle East war on Feb 28, the rial traded at around 1.7 million to the dollar, and in late April it hit what was then a record low of 1.8 million.
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what → trade → million
Late in August, US Treasury Secretary Scott Bessent laid out plans for the “economic asphyxiation” of Iran, hoping to use financial pressure to hasten the end of the war.
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Bessent → lay → war
The new measures build on a sanctions regime by the US and allies that has been in place since 2018, when President Donald Trump withdrew from an international deal struck with Tehran on its nuclear programme.
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Trump → build → programme
The US has also put Iran’s ports under a naval blockade, attempting to reduce its oil exports to zero.
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US → put → zero
