Saudi fixes local price cap for gasoline

Saudi Arabia on Saturday announced that it would fix the local price cap for gasoline from July 10, Saudi Press Agency (SPA) reported.

The Energy and Water Price Reforms Executive Committee said a royal order was issued to keep gasoline prices from June at SR2.18 ($0.58) and SR2.33 for octane 91 and octane 95 respectively, as of Saturday.

The order said that the state would bear any costs that may exceed the June prices in a monthly periodic review of prices, the statement on SPA added.

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