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  • Ahmed Saleh

Global economic dynamics impact oil prices, affecting gasoline costs globally

In recent years, global economic dynamics have emerged as pivotal determinants of oil prices, thereby exerting a direct influence on the cost of gasoline. Given Saudi Arabia's position as one of the world's leading oil producers, its role in the global oil market is substantial.

Numerous factors contribute to fluctuations in gasoline prices within Saudi Arabia. Foremost among these is the trajectory of international oil prices, alongside various other determinants such as overall demand for gasoline, transportation expenses, and the profit margins of refineries.

Consequently, Aramco, the state-owned oil company of Saudi Arabia, regularly announces updated gasoline prices on the 10th of each month. This practice allows for adjustments that reflect prevailing market conditions and ensures transparency in pricing.

Gasoline prices in Saudi Arabia for February 2024

There have been no significant changes in the price of a liter of gasoline in Saudi Arabia for several months. Below are the details:

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