Iran government to ask for $7b for fuel imports

Tehran: Iran's government plans to ask parliament for $7 billion to pay for increasingly expensive fuel imports, a newspaper said on Monday.

Senior Oil Ministry official Hojjatollah Ghanimifard warned the amount needed by March 2009 could rise even further if fuel prices continue to rise.

He told the daily Tehran E Emrouz newspaper that consumption was estimated at 80 million litres in Iran.

Officials had previously said both consumption and imports fell sharply after Iran launched rationing to curb soaring consumption.

"If the [fuel] prices continue to rise the budget needed to import will be more than $7 billion. It will be around $9 billion," Ghanimifard was quoted as saying.