Saudi Aramco Image Credit: Gulf News archive

Dubai: Saudi Arabia has slashed fuel prices in the Kingdom by almost 50 per cent starting Monday (May 11), according to the Saudi Press Agency (SPA).

Gasoline 91 will now be priced at SR0.67 per liter in stead of SR1.31, while gasoline 95 will now be SR0.82 per liter down from SR1.47 in the previous month.

Latest fuel prices in UAE

The new prices have come into effect today (Monday). According to Saudi Aramco, the reduction comes in accordance with the governance procedures of pricing adjustment of approved energy and water products.