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Saudi Arabia cuts domestic gasoline prices

October 21, 2019 at 2:19 am

Saudi riyal, 29 January 2018 [ArgaamPlus/Twitter]

For the fourth quarter in a row, Saudi Aramco yesterday announced a reduction in domestic gasoline prices.

The state-official Saudi Press Agency (SPA) that Aramco reduced the “Gasoline 91” prices to 1.50 Saudi riyals ($0.40) per litre, compared to 1.53 Saudi riyals per litre ($0.41) in the current year’s third quarter. It also reduced the prices of the “Gasoline 95” to 2.05 Saudi riyals per litre ($0.55), compared to 2.18 Saudi riyals per litre ($0.58) in the previous quarter.

Quoting official sources SPA pointed out that the updated gasoline prices would be adopted “starting 20 October.”

The move was said to have been taken by “the governance procedures of pricing adjustment of approved energy and water products.”

The sources added that the local gasoline prices were subject to change due to changes in export prices from the kingdom to the international markets.

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