Financial Tribune - The latest rationing and doubling of gasoline prices that started out of the blue last Friday (Nov. 15) will annually generate up to $5.5 billion in export revenue for the government, a board member of the Iranian Oil, Gas and Petrochemical Products Exporters� Association said.

�The National Iranian Oil Products Distribution Company�s output stands at 115 million liters per day, of which 95 ml/d is used domestically and the rest (20 ml/d) can be exported,� Hamid Hosseini was quoted as saying.

Given the controversial rationing scheme and higher pump prices, current gas consumption is expected to decline to 85 ml/d in less than 90 days, consequently creating extra space for exports (possibly 30 million liters/day).

Hosseini opined that one liter of the fuel can be sold at 50 cents to neighboring states, earning an estimated $5.5 billion a year, or equivalent of the amount made from selling 300,000 barrels of crude per day at $50.