Iran cuts portion of gasoline subsidies

Published April 25, 2014 12:59pm ET



TEHRAN, Iran (AP) — Iran cut a portion of fuel subsidies Friday, nearly doubling some prices at the pump as part of a second round of cuts delayed since 2012.

The dramatic measure, which went into effect at midnight, will test public support for moderate President Hassan Rouhani in a nation battered by inflation and economic sanctions imposed over Iran’s contested nuclear program.

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