Saudi Arabia said to delay raising fuel prices

08/07/2017 Argaam

Saudi Arabia might delay its plans to raise fuel prices until October this year or early 2018, Bloomberg reported, citing unnamed sources familiar with the matter.

 

The government delayed the price increase to ensure that it won’t slow industrial activity, sources said, adding that it is still assessing the impact of price hikes on the economy.

 

The Kingdom has first raised fuel prices in December 2015, Argaam earlier reported.

 

The second round of price hikes is set to come into effect sometime between 2017 and 2020. 

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