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  • Ahmed Saleh

Global economic factors shape oil prices; Saudi Arabia's actions crucial

In recent years, global economic factors have played a crucial role in determining oil prices, directly impacting the cost of gasoline. As one of the world's largest oil producers, Saudi Arabia's actions have significant implications for the global oil market.

Gasoline prices in Saudi Arabia are influenced by various factors, primarily international oil prices. Other considerations include the general demand for gasoline, transportation costs, and refinery profit margins. To keep consumers informed, Aramco, the state-owned oil company, announces updated prices on the 10th of each month.

As of January 2024, there have been no significant changes in the price of a liter of gasoline in Saudi Arabia for several months. The details are as follows:

- Gasoline 91: 2.18 SAR/Litre

- Gasoline 95: 2.33 SAR/Litre

In addition to gasoline, the price of diesel in Saudi Arabia saw an increase at the beginning of the new year. Aramco raised the diesel price from 0.75 halala to 1.15 SAR per liter. It's important for consumers to stay informed about these price updates, as they can have a direct impact on their expenses.

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