Iran fuel price hike: 12 dead, 13 injured in protest over surprise rationing

At least 12 people have been killed in Iran following protests that have erupted across the country after the government unexpectedly announced a hike in fuel prices. According to reports, "the death toll in Iran from protests over gasoline rationing and price hikes of at least 50% has risen to 12 over the past two nights". While one protestor was killed in Sirjan, four died in Marmara. As on Saturday, the 13 people were being treated for injuries, as per reports.

Protests were held in several cities of Iran on early Saturday after the government announced effective measures to rationalise and increase the price of petrol by three times, a day before. Without prior warning, the Iranian state television quoting Vice President Mohammad Bagher Nobakht in the early hours of Friday morning, broadcasted a statement by the National Iranian Oil Products Distribution Company saying petrol will now be rationed across the country using smart fuel cards.

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The International Monetary Fund (IMF) has predicted the Iranian economy will shrink by 9% this year, as US sanctions choke off oil exports that have been Iran's main revenue source, and endemic corruption hobbles Iranian President Hassan Rouhani's efforts to address the crisis. The country's economy has worsened under the Trump administration's "maximum pressure" campaign and domestic corruption.

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US sanctions affected Iran

Iran has some of the world's cheapest fuel prices due to heavy subsidies and the fall in the value of its currency. It is also one of the world's largest oil producers, with exports worth billions of dollars each year. But it has limited refining capacity and sanctions have made it difficult to obtain spare parts for oil plants. Sanctions were reimposed last year after US President Donald Trump abandoned the landmark nuclear deal between Iran and six world powers, as per reports.

Under the accord, Iran agreed to limit its controversial nuclear activities and allow in international inspectors in return for sanctions relief. Since the US left the deal, Iran has been gradually stepping up its nuclear activity in breach of the accord, though it has consistently denied wanting to develop nuclear weapons. The sanctions have led to a sharp downturn in Iran's economy, pushing the value of its currency to record lows, quadrupling its annual inflation rate, driving away foreign investors and triggering protests.

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(with ANI inputs)