Saudi Arabia’s Aramco raises domestic petrol prices

0 5

Get real time updates directly on you device, subscribe now.


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

Middle East Monitor

Subscribe to our newsletter
Sign up here to get the latest news, updates delivered directly to your inbox.
You can unsubscribe at any time

Leave A Reply

Your email address will not be published.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

Privacy & Cookies Policy