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Iran Election Fuel Prices

People commute in their cars during an afternoon traffic jam in northern Tehran, Iran, Tuesday, July 2, 2024. Comments suggesting that IranƵs reformist presidential candidate could increase government-set gasoline prices have raised fears of a repeat of nationwide protests.

DUBAI, United Arab Emirates Ƶ As IranƵs runoff presidential election nears, comments by an official in the campaign of reformist Masoud Pezeshkian raised the possibility of his government increasing government-set gasoline prices Ƶ a move that has sparked nationwide protests in the past.

While still tentative, economists long have warned Iran needs to overhaul its system of subsidies, estimated to cost the Islamic Republic tens of billions of dollars a year. In 2019, a similar hike triggered mass demonstrations and a bloody crackdown that grew even more intense after the 2022 protests over the death of Mahsa Amini.

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