Saudi Arabia to maintain local gasoline price ceiling

Saudi Arabia has fixed the maximum local prices for gasoline (Octane 91 octane) at SR2.18 per liter and gasoline (Octane 95) at SR2.33 per liter effective from July 10.

This was on the basis of the prices approved by the higher authorities for the month of June 2021; it was also by the Executive Committee for the Governance of the Price Adjustment of Energy and Water Products.

Under the decision; the state will bear the difference that might exceed June prices during the periodical monthly review.

The move comes as part of the Kingdom’s efforts in order to improve the standard of living for citizens and residents; and to support local economic activity.

According to the royal decree; the new price ceiling will apply to the July gasoline prices; which rose to SR2.28 per liter for 91 Octane and SR2.44 per liter for Octane 95.