USA Africa Dialogue Series - Saudi Arabia to raise domestic petrol prices by 'up to 40%' as low oil price hits home

"Saudi Arabia will raise domestic petrol prices by up to 40 per cent, AFP has reported, citing the kingdom's state press agency, SPA.

Initial reports suggested the increase in petrol prices is imminent.

The change comes amid a raft of measures to combat the kingdom's record budget deficit of $98 billion in 2015."

http://www.independent.co.uk/news/business/news/saudi-arabia-to-raise-petrol-prices-by-up-to-40-as-low-oil-price-hits-home-a6788496.html

- Ikhide