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The Executive Committee for the Governance of the Price Adjustment of Energy and Hydraulic Products in Saudi Arabia has announced the publication of the Royal Directive to approve the prices of gasoline for the month of June 2021, gasoline “octane 91 / 2.18 riyals ”and gasoline (95 octane / 2.33 riyals), will be the local ceiling price for gasoline. As of July 10, 2021.
The royal directive ensured that the state would bear what could exceed the June prices during the monthly periodic price review.
This arose out of the leadership’s concern to reduce the burden on the lives of citizens and residents, and its continued quest to achieve the public interest and support local economic activity.
According to the directive, the prices of gasoline for the month of July 2021 AD, which saw an increase in gasoline (octane 91 / 2.28 rials), and gasoline (octane 95 / 2.44 rials ), will be subject to the approved cap, noting that the periodic price review continues without exceeding the specified cap.
Aramco reviews prices in the Kingdom on a monthly basis, in order to reduce the consumer’s vulnerability to fluctuations in export prices.
Saudi Aramco had succeeded in developing its service station business and improving its access to retail customers within the Kingdom, through its entry into a 50-50 joint venture with Total to operate service stations in the Kingdom.
The two companies have also reached an agreement for the acquisition of 270 service stations and a fleet of tankers in the Kingdom bearing the brand (Sahel). Both companies intend to rename these stations in the future.
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