|16 February, 2020

Saudi Aramco changes frequency of fuel’s price review cycle

Prices shall be changed on the tenth day of every month in the Gregorian calendar, to be effective on the eleventh day

Saudi Aramco logo is pictured at the oil facility in Abqaiq, Saudi Arabia October 12, 2019. Image used for illustrative purpose.

Saudi Aramco logo is pictured at the oil facility in Abqaiq, Saudi Arabia October 12, 2019. Image used for illustrative purpose.

REUTERS/Maxim Shemetov
Riyadh – Mubasher: The Saudi Arabian Oil Company (Saudi Aramco) has changed the frequency of the price review cycle to be conducted monthly instead of quarterly, effective Sunday, 16 February 2020.

The new per-litre price of the 91-octane fuel will stand at SAR 1.55, while the per-litre price of the 95-octane will be SAR 2.11, as of 16 February, according to a statement released on Saturday.

Prices shall be changed on the tenth day of every month in the Gregorian calendar, to be effective on the eleventh day, Aramco said.

The company announced that local fuel prices will be set depending on changes in the prices of Saudi Arabia’s exports.

Source: Mubasher

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