By Innovation-sa on January 1, 2018 in News

Saudi Arabia raised fuel prices with effect from January 1, 2018. The initiative is part of a program that aims at gradually eliminating energy subsidies as the Kingdom seeks to overhaul its economy and balance the budget. The price of Octane 91 increased from 0.75 riyals to 1.37 riyals per liter while that of Octane 95 increased from 0.90 riyals to 2.04 riyals per liter.

The rate of diesel for transportation purpose will remain unchanged at 0.47 riyals per liter. Kerosene prices will also remain unchanged at 0.64 riyals per liter.

Diesel for industries and utilities will now be available at 0.378 riyals. The prices are inclusive of Value Added Tax (VAT).