Saudi Arabia Slows Pace of Fuel Subsidy Reforms

摘要

Saudi Arabia has decided to slow down the pace of removing fuel subsidies and will introduce price increases gradually in the coming years to mitigate public concerns about the rising cost of living in the kingdom. Under a new plan released Wednesday by the Saudi Ministry of Finance, domestic gasoline prices will be linked 100% with international prices by 2025, or five years later than a previously set target. Diesel prices will also be raised steadily to 90% linkage to international prices over the 2018-25 period. Jet fuel is the only fuel that will see an immediate 100% link to international prices in 2018.