Gasoline prices to be reviewed in first quarter of 2018


Saudi Gazette report

– Ministry of Energy, Industry and Mineral Resources will supervise studying the prices of gasoline, diesel (for industry and utilities) and aviation fuel in line with the decision taken by the Council of Ministers on Tuesday.

The ministry said in a statement that the changes in the prices of these fuels will come into force during the first quarter of the next fiscal year, and that Saudi Aramco will announce details and mechanism of these changes to its customers.

“The review of these prices are aimed at improving the efficiency of the government support program in favor of the eligible Saudi beneficiaries under the Citizen’s Account Program,” the statement pointed out.

According to the statement, the ministry will supervise studying the prices and all related arrangements required to implement the Cabinet decision in order to achieve the desired goals. The Cabinet instructed the correction of electricity tariffs and prices of gasoline, diesel (for industry and utilities) and aviation fuel during the fiscal year of 1439-1440.

Meanwhile, Minister of Labor and Social Development Ali Al-Ghafis announced on Tuesday that the number of Saudis who have registered with the electronic portal of the Citizen’s Account Program reached 13,040,667, and these included 3,728,386 heads of the household and 9,312,2871 dependents.