Saudi Arabia raises petrol prices at its pumps

State-owned Saudi oil firm Aramco yesterday increased the local price of petrol at its gas stations to 2.10 riyals ($0.56) and 1.44 riyals ($0.38) a litre.

Octane 95 gasoline was sold at 2.02 riyals ($0.5) and Octane 91 was sold at 1.37 riyals (0.37) per litre in the last quarters (from January till March, 2019).

Aramco explained in a statement that the domestic gasoline prices will rise and fall depending on changes in export prices.

The rise in the local gasoline prices comes as oil prices have increased to more than $70 a barrel.

Saudi Arabia is the world’s largest oil exporter, and third largest producer.

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