Riyadh – Mubasher: Aldrees Petroleum and Transport Services Company announced an update on its recent decision to raise profit margin on fuels.
The new profit margin in gas stations and service centres will not affect prices for the end consumer, the company said in a statement to the Saudi Stock Exchange (Tadawul) on Tuesday.
In October, the company announced that the Saudi Ministry of Energy approved increasing the profit margin for gasoline to 15 halalas up from 9 halalas per litre, and for diesel to 5 halalas per litre, up from 3.5 halalas.
Aldrees is in talks with Saudi Aramco to agree on the mechanism of receiving the retroactive profit margin, the statement further noted.
