VOL. XLII

No. 19

10-May-1999

SAUDI ARABIA

Saudi Arabia Increases Retail Price Of Gasoline By 50%

The Saudi Council of Ministers has decided on a 50% increasein the price of gasoline sold on the local market with effect from 3 May,raising the price per liter to SR0.9 or 90 halalas (equivalent to 24 US centsat the current exchange rate) from the previous SR0.6 which has been in effectsince January 1995. According to Saudi press reports, the increase is expectedto help trim the current years budget...