Saudi ministry denies speculations on gasoline price hikes ahead

06/01/2018 Argaam

 

Saudi Arabia is not planning further hikes in fuel and gasoline retail prices in the coming years, the Ministry of Energy, Industry and Mineral Resources said on Friday, denying social media reports.

 

The ministry confirmed that these speculations "were completely false and inaccurate".

 

The Saudi government raised domestic gasoline sale prices on Jan. 1, as part of the Fiscal Balance Program aimed to correct retail energy selling prices, curb the rapid growth of domestic consumption and ensure efficient use of national resources, Argaam reported.

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