Gasoline Prices Just Jumped 127% in Saudi Arabia

[BHarwana]

January 2, 2018, 2:09 PM GMT+5

A gas station near to the city of Qassim, Saudi Arabia.

Photographer: Simon Dawson/Bloomberg

The cost of living is rising for Saudis this year as the government raises gasoline prices and introduces value-added taxation to plug the budget deficit. The central bank forecasts inflation to average 5.7 percent in 2018 from a negative rate of 0.1 percent last year. Domestic gasoline prices are expected to reach parity with international levels between 2018 and 2025, later than the previous target of 2020 as authorities seek to offset the impact of measures to repair public finances on consumers and businesses.



https://www.bloomberg.com/news/arti...s-higher-cost-of-living-in-saudi-arabia-chart

 

[Enigma_]

127% ???? Holy crap.

 

[BHarwana]

127% ???? Holy crap.

Where ever Nawaz sharif goes oil prices rise

 

[Dexon]

What would the Saudi people react to this huge increase in prices?

 

[Sinnerman108]

One

There was only one source of entertainment, and that was luxury cars with big engines.

Alas,

WAS !

 

[BHarwana]

What would the Saudi people react to this huge increase in prices?

Saudis cannot react it is not a democracy. they will just have to accept it.

 

[Enigma_]

What would the Saudi people react to this huge increase in prices?

Don't think they have a right to react considering they are a monarchy.

 

[Dexon]

Saudis cannot react it is not a democracy. they will just have to accept it.

I understand . The Iranian government planned to increase fuel prices by 10% in the new year, which was canceled after the recent protests. In Iran, nobody accept such a price increase Guess the suppression is real in saudi...

 

[AZADPAKISTAN2009]

This only happened because Saudi King gave 300 Billion dollar to Trump for Ransom Money if he had not given that money to Trump , there woudl be no tax in Saudia and every thing would be normal

 

[HannibalBarca]

I understand . The Iranian government planned to increase fuel prices by 10% in the new year, which was canceled after the recent protests. In Iran, nobody accept such a price increase Guess the suppression is real in saudi...

An Autoritarian regime...lecturing...another Autoritarian regime...
And both sides...finding escuses of their own "miserable" regime... to boost up their inferiority complex...

What a world we live in...What a world...

 

[Oublious]

Matter of time Ksa wil turn to iran situation...

 

[The SC]

Saudi Arabians enjoy the cheapest gasoline in the world, now even with this increase..

 

[HannibalBarca]

Saudi Arabians enjoy the cheapest gasoline in the world, now even with this increase..

Kuwait is the cheapest... even bf KSA inflation...

 

[BHarwana]

Just a Question is Saudis low on finances?

 

[Arabi]

That seems a bad news, but the good news is the government announced a new economic program for Citizens called "Citizen Account" to help low- and middle-income families cope with the changes, so every citizen and family will be protected economically from the effect of this new hike in fuel prices and will get money on monthly bases even before executing the new pricing of fuel...

‘Citizen Account Program’ to help Saudis face economic changes