Riyadh, SPA :
Further to the statement of the Ministry of Energy, Industry and Mineral Resources issued on 24th of Rabea Al Awal 1439 H. (12 December 2017) on the plan of the financial balance program to correct the prices of energy products (local oil derivatives) aimed at reducing the rapid growth in domestic consumption of energy products in the kingdom, the prices set forth in the table below shall be applied at the end of the last hour on Sunday, 13 Rabi'II 1439 H.
Corresponding to December 31, 2017 G., i.e., starting at twelve o'clock; midnight and the beginning of Monday 14 Rabi'II 1439 AH January 1, 2018, according to the following:
Product Price (SR/L)
Diesel (for industry and utilities)0.378
Diesel (transport) (unchanged)0.47
Kerosene (previous basic price unchanged) 0.64
Prices above include VAT.
The regulatory authorities are monitoring the markets to ensure that prices are applied, not manipulated, and that supplies are not interrupted, and that legal penalties will be applied to anyone who raises prices before the stated date or stops providing products. Saudi Aramco will also provide its customers with detailed information on mechanisms of applying these prices.