Saudi Arabia Set to Hike Domestic Petrol Prices By 80% in January

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Saudi Arabia has approved a new round of energy price hikes and a cash handout system for low- and middle-income citizens to offset the impact of the changes.

The cabinet approved the “gradual correction of pricing for some energy products”, including electricity tariffs, state news agency SPA said on Tuesday.

The kingdom will announce increases in the domestic prices of gasoline, jet fuel and diesel in the first quarter of next year (Expecting by January), bringing prices up into line with global benchmarks, the energy ministry said on Tuesday.

 

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