Aramco Announces Lower Gasoline Prices for October

Aramco Announces Lower Gasoline Prices for October
Attendees walk by a sign for the Saudi Arabian Oil Co. (Aramco) on display inside the King Abdulaziz Center for World Culture during a tour of the project in Dhahran, Saudi Arabia, on Friday, Nov. 25, 2016. When completed, the project designed for the Saudi Arabian Oil Co. (Aramco) will contain diverse cultural facilities, including an auditorium, cinema, library, exhibition hall, museum and archive. Photographer: Simon Dawson/Bloomberg via Getty Images

Saudi Aramco, the world’s largest oil company, has announced new petroleum prices starting October 11, according to the company’s website.

The company lowered the price of Gasoline 91 to 1.44 riyals, and Gasoline 95 too 1.59 riyals as compared with the previous prices of  1.47 and 1.63, respectively.

Energy product prices are adjusted according to government procedures to amend energy and water prices, noting that domestic energy product prices are subject to change according to changes in export prices from the Kingdom to global markets.

Aramco announced in February that it will now review gasoline prices on a monthly basis as opposed to the old system of each quarter.

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