Saudi Aramco Announces Updated Gasoline Prices

ARAMCO HIKES FUEL PRICE

Saudi Arabia raised the local price for Octane 95 gasoline to 2.11 Riyals and Octane 91 to 1.55 Riyals per liter, Saudi Aramco said on Saturday.

The change took into effect on February 16, the company said in a statement, adding that domestic gasoline prices will go up or down according to changes in export prices from Saudi Arabia to global markets.

Aramco also announced that starting this month the revision of the price will be on a monthly basis instead of quarterly.

Starting this February, domestic gasoline prices will be updated monthly on the 10th day of every month and the new prices will come into effect the following day.