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Saudi Arabia is moving to raise gasoline prices 30%
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News / Baghdad
Fuel industry sources, said that Saudi Arabia may raise domestic gasoline prices 30% as of July, in the framework of the reform plan implemented by the largest oil exporter in the world, to align fuel prices with the prevailing international standards.
And increased the UK in December 2015 the price of 95 octane gasoline to 0.90 riyals ($ 0.24) a liter from 0.60 riyals, but this kept Arabia among the countries that sell gasoline one of the cheapest prices in the world.
Oil prices are rising globally and Brent record of $ 56.91 a barrel- US crude close to the high and Brent fall but post the biggest annual gain
At present, the government wants to equate domestic fuel prices with global levels by 2020, sources say the move, which is part of reforms to ease the burden of support for the government's financial burden, will boost energy and reduce consumption efficiency.
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