Saudi Aramco Lowers Fuel Prices in May

Saudi Aramco Lowers Fuel Prices in May

Saudi Aramco has announced on May 10 new reduced prices for fuel in the Kingdom of Saudi Arabia, according to a press release

Gasoline 91’s price was set at 0.67 riyals ($0.18) per liter , down 48.9% from 1.31 riyals per liter in April.

Gasoline 95’s price was set at 0.82 riyals per liter, down 44.2% from 1.47 riyals per liter in April.

Diesel’s price was set at 0.47 riyals per liter, Kerosene was set at 0.64 riyals per liter, and liquified petroleum gas (LPG) was set at 0.75 riyals per liter.

All prices are variable according to the changes in export prices of crude and the pandemic crisis.

Saudi Finance Minister Mohammed Al-Jadaan told Al Arabia: “Revenues have seen a huge drop and are expected to continue dropping throughout the year.” Oil revenues fell 24% in the first quarter of this year to 128.771 billion riyals while non-oil revenues fall 17% to 63.3 billion riyals.


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