Iran petrol prices surge after subsidies cut

April 25, 2014 5:53 AM

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Iran petrol prices surge after subsidies cut

Prices rise by up to 75 percent as president makes potentially risky bid to used saved money to tackle unemployment.

Petrol prices in Iran have leapt by up to 75 percent, after state subsidies were cut, in a risky move that President Hassan Rouhani hopes will improve an economy battered by Western sanctions.

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