According to Khabar Online correspondent, an almost 538 billion dollars budget bill submitted by President Mahmoud Ahmadinejad to the Parliament with delay is based on an oil price of 80 dollars while according to the Fifth Development Plan, 20 percent of total oil revenues should be transferred to the National Development Fund. For Iranian crude is heavy type sold below the international daily prices, it must be purchased at least 100 dollars a barrel which after 20 percent decrease which would make 80 dollars for government.
At the same time, justifying the government's proposal on oil price for new Iranian budget of 1390 (the forthcoming Iranian new year, begins on March 21), Ahmad Ghale'bani, the Managing Director of National Iranian Oil Co (NIOC) maintains that in the next year, the price of crude per barrel won't drop below 80 dollars.
Defending the government's suggested budget, he said: "I believe oil price in the coming year will be around 100 dollars, but entirely it won't be sold lower than 80 dollars an average."
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