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Next Saturday, Aramco will announce the new fuel prices (gasoline, diesel, etc.) for the month of July, in a state of anticipation among citizens and residents, pending what the Saudi oil giant will decide.
While some expected a rise in gasoline prices for the month of July; Due to successive increases in oil futures prices, especially after the OPEC Plus talks ended without reaching an agreement on increasing production from next month, others are hoping Aramco will maintain the gasoline prices for July at last June prices.
The price of Brent crude, the benchmark, rose 0.02% to $ 77.31 per barrel for delivery next September. The price of West Texas Intermediate crude, the benchmark for U.S. oil, rose 1.9% on the New York Stock Exchange today to $ 76.56 per barrel for August delivery.
Aramco is currently reviewing the applicable prices, in light of the changes taking place in the global oil market, affected by the repercussions of the Indian crown mutator on the world economy, as well as the failure to reach an agreement in the meetings. OPEC Plus.
And Aramco is expected to announce at ten in the evening next Saturday, the new gasoline prices, which will be applied from the morning of Sunday, July 11, 2021, while many Saudis were busy on social networks, with the decisions that ‘Aramco bring regarding the expected prices.
Last month, Aramco announced the current applicable fuel prices as follows:
91 gasoline price: 2.18 riyals per liter
95 gasoline price: 2.33 riyals per liter
Diesel price 0.52 riyals per liter
The price of kerosene is 0.70 riyal
LPG 0.75 riyal per liter.
And Saudi Aramco had decided, since February 2020, to review fuel prices on a monthly basis instead of quarterly. With the aim of reducing the vulnerability of consumers to fluctuations in the Kingdom’s export prices to world markets
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