Gasoline Price Hike Turbocharges Demand for CNG Hybrid Cars

Demand for CNG hybrid cars and prices of such vehicles have soared since the Iranian government decided to triple gasoline prices overnight on Nov. 15, a business insider says.
Alireza Pourhassani, a member of Tehran Auto Dealers Association, told Tasnim News Agency that in the past two weeks, CNG hybrid vehicles' prices have gone up by 70 to 100 million rials ($570-813) depending on the model.
As per the new regulations, private car owners can buy 60 liters of subsidized gasoline every month with a fuel card for 15,000 rials (12.1 cents) per liter, up 50%. Additional purchases (maximum 250 liters a month) will cost 30,000 rials (24.3 cents) per liter—up 200%.
"Prior to the fuel rationing, car prices were on a mild upward trajectory, which was mostly caused by the domestic carmakers' falling output. However, after the gasoline price tripled, several vehicle models, including CNG hybrids, saw a price jump," the official said.