Amidst contemplations over the fuel price increase in Saudi, a source in the National Oil and Gas Authority (NPRA) revealed that the prices of Mumtaz and Jayyid gasoline fuel are not going change. A liter of Mumtaz gasoline (95 octane) is sold for 200 fils and 140 fils for Jayyid (91 octane), and these prices were hiked in January 2018 and are not going to change.
The Saudi Aramco company has announced that, starting in February, the periodic review of gasoline prices will be conducted monthly instead of quarterly, according to the Saudi Press Agency, “SPA”.
“Aramco” explained that the monthly review will be conducted on the tenth day of every Gregorian month, while the application will be on the morning of the eleventh day, according to the procedures for the governance of adjusting the prices of energy and water products.
The Saudi company revealed the updated gasoline prices starting yesterday, February 16th, which will be as follows: gasoline (91) at 1.55 riyals per liter, and gasoline (95) at 2.11 riyals per liter. Aramco indicated that domestic gasoline prices are subject to change due to changes in export prices from the Kingdom to international markets.