Riyadh – Mubasher: Saudi Arabia may increase its domestic fuel prices 30% by July, as part of a reform plan to align its fuel prices with global benchmark levels, sources told Reuters.
Sources added that this step aims to ease the burden of subsidies on government finances and to boost energy efficiency and cut consumption.
"There might be a change in the date or the percentage of the increase in line with the financial burden that citizens may shoulder," one of the sources told Reuters.
In December, news sources said that Saudi Arabia may tend to raise energy prices, amid declined oil prices.
In case oil prices rose 30%, 90-fuel petrol will reach 97.5 halala, while the 95-Octane fuel will reach 117 halala, Saudi sources told Anadolu Agency.
