Ministry of Energy, Industry and Mineral Resources The ministry kept gasoline prices for the third quarter of this year at 1.37 riyals per liter for the price of 91 gasoline and 2.04 riyals for the price of 95 gasoline per liter.
For the first time, the Ministry of Energy, Industry and Mineral Resources announced that it has conducted its quarterly review of gasoline prices. This is the second time the ministry has reviewed gasoline prices in the Kingdom after the first review at the beginning of the second quarter of 2018, which also resulted in keeping the same gasoline prices unchanged.
This is the second time the ministry has reviewed gasoline prices in the Kingdom. It is noteworthy that gasoline prices in the Kingdom are linked to export prices to international markets, and thus are subject to rise and fall with changes in global prices.
<Earlier this year, the Saudi Ministry of Energy issued a statement regarding the adjustment of domestic oil derivatives prices, which was implemented at the beginning of January. In December 2017, the Saudi Ministry of Finance announced the full details of the energy price correction, stating that gasoline and diesel prices are targeted to be linked to the global reference price gradually, starting in 2020.
