Petrol prices may see major hike from Feb 1
RIYADH: Petrol prices have been increased once again, after which the public will once again face inflationary pressure.
Saudi Arabia has significantly increased the price of 98 octane petrol, increasing it from 2.94 riyals to 3.83 riyals, which is considered a major increase in recent months.
On the other hand, the price of 91 octane petrol was maintained at 2.18 riyals and the price of 95 octane petrol at 2.33 riyals, which has provided some relief to consumers, however, this increase will directly lead to an increase in expenses for people using 98 octane.
According to reports, no change has been made in the prices of diesel and kerosene, the price of diesel is 1.79 riyals while the price of kerosene remains at 1.59 riyals, which has provided temporary stability to transport and other sectors.
Saudi officials say that all types of fuel are available in abundance in the country and the public will not face any shortage.
Economic experts say that this increase in petrol prices could be the result of fluctuations in oil prices in the global market.
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