Several Saudi-listed companies said on Monday that Aramco’s latest fuel price increase will have a financial impact on their production or operating costs.

State-owned oil giant Saudi Aramco had sent notifications to businesses in the kingdom on January 1, 2026 regarding an adjustment to fuel product prices, particularly diesel, effective immediately. According to market data, the price for diesel has been increased by approximately 8 % from SAR 1.66 to SAR 1.79 per litre.

Dairy company Almarai said the price hike will deliver direct and indirect supply chain costs of approximately SAR 70 million ($18.7 million) for its business this year, while Northern Region Cement said it is anticipating an 11% rise in production costs.

"The direct impact of the increase in diesel price will be an estimated additional cost of 70 million Saudi Riyals for the year 2026, in addition to an expected indirect impact from other parts of Almarai’s supply chain," the dairy firm said.

Other businesses, including the National Agricultural Development Company (Nadec), Saudi Ceramics, Al-Jouf Cement, Yanbu Cement, City Cement and Najran Cement said the oil price hike will lead to higher production or operating expenses.

The financial impact will likely show on the financial results for the first quarter of the year, the firms said.

Most of the listed firms, however, said they have signed up or are joining a government-backed initiative, the Industrial Sector Competitiveness Program, which seeks to provide energy efficiency grants or subsidies to help offset fuel price adjustments.

(Writing by Cleofe Maceda; editing by Seban Scaria seban.scaria@lseg.com)