Saudi Arabia to raise domestic petrol prices by ‘up to 40%’ as low oil price hits home

Saudi Arabia will raise domestic petrol prices by up to 40 per cent, AFP has reported, citing the kingdom’s state press agency, SPA.

Initial reports suggested the increase in petrol prices is imminent.

The change comes amid a raft of measures to combat the kingdom’s record budget deficit of $98 billion in 2015.

  • Ed

    It’s 15 cents a litre. My goodness, how will they hold the peace with a 40% increase to that!!!

  • dance…dancetotheradio

    Telegraphing lowered expectations.

  • You can thank the free enterprise of the American oil industry for this good news.

    Nice job boys and girls.

    The Saudis will have to consider cut backs on jihad funding.

  • Gary

    Looks like Wynne saw the lower prices for oil and jacked up the Hydro when taxpayers got a break on their car and home heating plus Diesel fuel .
    But now 2016 will see even higher Hydro rates while gas will head back to 1.15+ a litre which means higher Air fares and taxi rates.

  • Norman_In_New_York

    This couldn’t happen to nicer people.

  • ntt1

    thousands of perfumed effete goat abusing royalty ,all needing that monthly check to pay for their decadence. while there is no doubt they would shift loyalty in a heart beat the question is ..to who? bring on the collapse send these itinerant goat herders back to their dunes where they belong.

    • DavidinNorthBurnaby

      Let them try to eat the oil.

  • DavidinNorthBurnaby

    Ah well, at least by canning Keystone, the King of Saud’s grovelling vassal in the WH has ensured their exports will stay healthy.