World News Today Live Updates: Iran increases gasoline price for its heaviest consumers as economy struggles

Sep 8, 2026 05: 21 AM IST.

Key points

• Iran accuses Canada of 'submission' to US after Ottawa's criticism of Tehran's 'destabilising activities'.
• Though ordinary Iranians say it's compounding an already tough cost-of-living crisis, authorities stated the move, aimed at curbing record consumption, would channel extra revenue to households.
• Here, we bring you all the latest world stories throughout the day from breaking headlines to the developments shaping global events.
• Iran increases gasoline cost for its heaviest consumers as economy struggles.

Iranian Foreign Ministry spokesperson Esmaeil Baghaei has criticised Canada after its foreign and finance ministers issued a joint statement, condemning Tehran and calling on it "to immediately end its destabilising activities in the Middle East".

In a post on X, Baghaei accused Canadian authorities of appeasing their "bullying neighbour", the US, and displaying "strategic confusion and submission to intimidation", despite what he described as Washington's contempt for Canada's sovereignty.

On the particularly day the U.S. President, in blatant contempt for Canada's sovereignty and independence, portrayed the entire country as part of the United States, Canada's foreign and finance ministers chose to further appease their bullying neighbor-this time by targeting Iran with a. Esmaeil Baqaei (@IRIMFA_SPOX) September 7, 2026. Sep 8, 2026 05: 00 AM IST. Iran increases gasoline cost for its heaviest consumers as economy struggles.

Iran introduced a steep cost hike for its heaviest gasoline users early Tuesday, state media noted, marking the second such growth since December and adding to economic strain from months of war and sanctions. Though ordinary Iranians say it's compounding an already tough cost-of-living crisis, authorities stated the move, aimed at curbing record consumption, would channel extra revenue to households.

Under the new pricing, consumers exceeding their monthly quota of 110 litres (29 gallons) now pay 100, 000 rials per litre double the previous rate a change authorities stated will affect regarding 15 percent of consumers.

In practice, the state oil distribution company's CEO remarked gasoline consumption hit a record 145 million litres a day in August, well above domestic production capacity of 122 million litres, with the shortfall met by imports.

For context, the hike comes as Iran's currency trades near record lows against the dollar and annual inflation sits around 67 percent, according to the government's own statistics agency. Sep 8, 2026 04: 58 AM IST.

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