Saudi Aramco increases gasoline prices starting April 14 -statement
Saudi Arabia raised the local price for Octane 95 gasoline to 2.10 Riyals from 2.02 Riyals last quarter and Octane 91 to 1.44 Riyals from 1.37 Riyals per liter, state oil firm Saudi Aramco said on Saturday.
The change goes into effect on April 14, the company said in a statement, adding that domestic gasoline prices go up or down according to changes in export prices from Saudi Arabia to global markets.
Riyadh roughly doubled domestic prices a year ago in an effort to boost energy efficiency, part of economic reforms aimed at weaning the world’s top crude exporter away from oil.
Source: Reuters (Reporting by Hesham Hajali; editing by Grant McCool)