Saudi Arabia’s Aramco raises domestic petrol prices

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Feeding the poor and needy is an act that draws us closer to Allah. We earn His forgiveness, mercies and blessings through this act of charity.

“Anyone who looks after and works for a widow and a poor person is like a warrior fighting for Allah?s cause, or like a person who fasts during the day and prays all night. (Bukhari)


Saudi giant, Aramco,  has raised its domestic gasoline prices for August, state TV reported yesterday.

In July, the state-owned company increased the price of the 91 octane gasoline grade from 1.29  ($0.34) to 1.43 riyals ($0.38) per litre and the price of the 95 octane grade from 1.44 riyals ($0.38) to 1.60 riyals ($0.43) per litre.

The move comes following Aramco’s recent announcement of a 73.4 per cent drop in its net profits for the second quarter of the financial year. It has said that the decline was incurred as a result of the coronavirus crisis.

Aramco, the largest oil company in the world, said on Sunday that its profits had dropped to 24.62 billion Saudi riyals (about $6.6 billion) in the second quarter of the current financial year, compared to 92.59 billion riyals ($24.6 billion) during the same period last year.

READ: Saudi Arabia ends loan and oil supply to Pakistan over its criticism of OIC on Kashmir

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