Jeddah: Saudi Arabia is currently considering raising the prices of gasoline and jet fuel domestically by approximately 80% from November.
The hike will increase the price of octane-91 from 75 halalas per liter to SR 1.35 per liter and octane-95 is expected to increase to SR 1.62 per liter from 90 halalas.
Car fuel will fetch SR 18 after the hike which currently costs SR 10.
Motorists are expected to have to shell out SR 36 for a full car tank, SR 16 more than the current rate of SR 20.
The prices are expected to further increase in the future.
Saudi Arabia currently has the lowest price for fuel among all the gulf countries as ordinary benzene is sold at less than half price when compared to the UAE, Qatar and Oman and also compared to the UAE, Saudi sells premium benzene at less than half the price.
