Economics
Saudi Arabia Considers Rise in Retail Fuel Prices in 2017
- Price increase to be announced before the end of the year
- Kingdom pursuing plan to cut dependence on oil revenue
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Saudi Arabia is considering increasing retail gasoline and diesel prices in 2017 for the second year in a row, as the world’s top crude exporter pursues a plan to cut its dependence on oil revenue, according to a person familiar with the matter.
The rise in domestic fuel prices is expected to be announced before the end of the year, according to the person, who asked not to be identified because the plan isn’t public.