In line with the implementation of the goals set under the Saudi Vision 2030, Saudi Arabia has actually announced and practically implemented certain necessary required reforms. Besides the introduction of various entertainment, tourism and other similar activities, the Kingdom of Saudi Arabia has been focusing more on the overall subsidies provided to the Saudi citizens and Saudi expats in the past years. The Kingdom is slowly and steadily reducing the subsidy on oil prices as well and allowing the retail prices to increase to generate more revenue during the fiscal year.
Keeping in view, the increase, the Kingdom of Saudi Arabia is still one of the countries to provide the cheapest oil to its Saudi citizens and Saudi expats living in the country.
Increase in Fuel Prices for 3rd Quarter 2019
THE ARAMCO HAS ANNOUNCED THE INCREASE IN THE OIL PRICES FOR THE 3RD QUARTER BETWEEN JULY 2019 TO SEPTEMBER 2019 EFFECTED FROM JULY14, 2019.
The benzene 91 has been increased from SAR 1.44 to 1.53 per liter (representing the increase of around 5.10% as compared to the last year) and the benzene 95 has been increased from SAR 2.10 per liter to SAR 2.18.
|Product||Quarter 2 2019||Quarter 2nd 2019|
Comparison of Oil Prices of 1st and 2nd Quarter 2019 with FY 2018
The following table summarizes the pricing details of various categories of Benzenes in the current and previous years Qtr. 2019 & 2018 wise.
|Product||Quarter 2 2019||Quarter 1 2019||Quarter 4 2018||Quarter 3 2018|