Saudi Arabia raises gasoline price

Baku. 18 September. REPORT.AZ/ Saudi Arabia is considering raising domestic prices for gasoline and jet fuel no later than November

Report informs citing the Bloomberg, by current prices, this could result of an increase of 80% for octane - 91 grade gas, from 0.75 riyals per litre to 1.35 riyals ($ 0.36) per litre.

Bloomberg said the government is planning to delay increases in other energy prices until 2018. Saudi Arabia is the world's biggest oil exporter, but has been forced to diversify its economy away from oil, as global prices have fallen and oil's long-term future looks uncertain. According to report, the government was planning to increase other fuel prices gradually between 2018 and 2021, but that gasoline and jet fuel would only be subject to a one-time raise before the end of this year.