Saudi Arabia’s Energy and Water Price Reforms Executive has announced the issuance of a royal directive fixing the local price cap for gasoline.
Under the royal directive, the gasoline (Octane 91) and (Octane 95) will be sold respectively at SR2.18 ($0.58) and SR2.33 a litre as of July 10, reported Bahrain News Agency (BNA).
The royal directive stipulates that the state shall shoulder any increase over June pricing, during the monthly periodical revision of the pricing.
According to the royal directive, the gasoline price for July 2021 that witnessed an increase (Octane 91/SR2.28) a litre and (Octane 95/SR2.44) a litre, will fall under the approved pricing ceiling, however, the periodic revision of pricing shall remain, noting that it shall not exceed the above-mentioned ceiling.
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