The Executive Committee for the Governance of Energy and Water Product Price Adjustments in Saudi Arabia announced the issuance of a royal directive establishing the gasoline prices for June 2021 as the price ceiling. This includes the price of "Octane 91 at 2.18 SAR" and "Octane 95 at 2.33 SAR," effective from July 10, 2021.
The royal directive stipulates that the state will cover any increases beyond the prices of June during the monthly price review. This decision is driven by the leadership's commitment to alleviate the cost of living for citizens and residents, their ongoing efforts to achieve the public good, and to support local economic activity.
According to the directive, the gasoline prices for July 2021, which saw an increase to "Octane 91 at 2.28 SAR" and "Octane 95 at 2.44 SAR," will adhere to the established ceiling, noting that the periodic price reviews will continue without exceeding the set ceiling.
Aramco reviews the prices in the Kingdom on a monthly basis to mitigate the impact of export price fluctuations on consumers. The Saudi Aramco company has successfully developed its service station sector, enhancing its access to retail customers within the Kingdom, thanks to its joint venture with Total to operate service stations in the Kingdom.
The two companies have also signed an agreement to acquire 270 service stations and a fleet of fuel transport tankers in the Kingdom, branded as "Sahl." Both companies plan to rebrand these stations in the future.
