Iran Press/Iran News: "The proceeds from the price hike will be used to provide additional subsidies for 60 million people in need," Mohammad Bagher Nobakht said in a televised interview on Friday night.
He said President Hassan Rouhani had insisted that "all extra revenues from the petrol price readjustment should be paid back to the people.”
"The first payments will be made to low-income and medium-income families within the next week or 10 days," Nobakht added according to Iran Press.
Meanwhile, Iranian President Hassan Rouhani on Friday said the government has no intention to receive any portion of the extra revenues due to fuel-price increase despite the current difficult economic conditions in the country.
He added that the government's move to increase the gasoline price would be beneficial to the Iranian people, particularly those who are experiencing economic hardship.
Iran has begun petrol rationing and a substantial increase to the price of gasoline is a government move which is meant to raise funds for low-income families and the needy.
The National Iranian Oil Products Distribution Company (NIOPDC) said in a statement late Thursday that the price of a liter of regular gasoline had gone up to 15,000 rials (12.7 US cents) from 10,000 rials and the monthly ration for each private automobile was set at 60 liters per month. Additional purchases would cost 30,000 rials per liter.
Some protests over fuel price hike took place in a number of Iranian cities early on Saturday.
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