PETROL PRICES HIKED BY 127% FROM 1st JANUARY
Saudi Arabia raised its gasoline and jet fuel prices by 127% starting from January 2018, citizens and expats are paying more now for gas and VAT of 5% .
The world's biggest oil exporter 'Saudi Arabia' is selling its Octane 91 grade gas for a price of 1.37 SR per liter instead of 75 halalas and Octane 95 grade gas to sale for 2.04 SR per liter instead of 90 halalas.
- It means, 10 SR petrol will cost 18 SR from now on wards, In the same way now it costs SR 20 for filling the car tank, from January it will become 36 Saudi Riyals for the people living in the Kingdom of Saudi Arabia.
- Last year in December 2015, We seen the hike in petrol prices with a message it will further increase in the future, Now after this effect from new year, the similar message we will see to increase in future till it matches the international prices.
- Saudi Arabia is struggling with its economy as it is continuously slowdown from the time of global financial crisis.
- The Kingdom of Saudi Arabia is currently in the 2nd position in selling petrol for cheap, In first position it is Venezuela where the petrol price is 0.01$ per liter while in Saudi Arabia it is 0.24$ per liter.
- In Norway petrol price is 1.98$ per liter which makes it last in the list of cheap petrol prices, India is selling for 1.13$ per liter, Pakistan petrol price per liter is 0.68$, In Philippines it is 0.92$, In Bangladesh it is 1.09$, in Sri Lanka it is 0.84$ and In United states the price of petrol per liter is 0.75$.