Saudi Arabia has set a cap on domestic gasoline prices effective July 10, 2021. The maximum domestic price for Gasoline-91 is set at SR 2.18 per liter, while Gasoline-95 is set at SR 2.33 per liter by royal decree.
The state will bear the difference in prices that may exceed the maximum levels during the periodical monthly review.
This new decision was based on prices approved by higher authorities for June 2021. The decision was announced by the Executive Committee for the Governance of the Price Adjustment of Energy and Water Products.
The move is part of the Kingdom’s ongoing efforts to raise citizens’ and residents’ standards of living and to encourage local economic activity.
According to the royal decree, the new price ceiling will take effect on July gasoline prices, which increased to SR 2.28 per liter for Gasoline-91 and SR 2.44 per liter for Gasoline-95.