but the decision to raise the price was just one more sign of Iran’s faltering economy
Removing subsidies is generally a good thing. Most oil producing countries subsidise energy as a sop to the population. This seems great as long as they can afford to do it but gets harder to do when the economy sours, or the oil price moves in the wrong way. Things can then get worse badly with a black market exporting the subsidised fuel, often at a massive profit to neighbouring countries, leading to shortages.
Things in Iran are complicated by America's decision to renege on the argeement. At the same time, other parts of incontinent US foreign policy have encouraged Iran to expand its influence in the region: Iran, Syria and Yemen.
Go Donald, go!