The Ministry of Energy, Industry and Mineral Resources highlighted that the decision was made after carrying out a quarterly review of the prices. The review was based on the export prices in the international markets, Xinhua news agency reported.
Saudi Arabia has started reducing subsidies on many products, including fuel, since 2015, to cope with unstable international oil prices and plans to diversify its economy and incomes.
(This story has not been edited by Social News XYZ staff and is auto-generated from a syndicated feed.)
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