Saudi Aramco Is To Raise The Gasoline Price.

Saudi Aramco said it would raise the price of regular gasoline by 25% as of Jan. 1, 2007. It will introduce a cheaper lower-octane gasoline grade that could suit many cars. Saudi Aramco said in a statement it would launch a new grade, the 91-octane gasoline, at SR0.60 ($0.160) per litre, while the current fuel, the 95-octane gasoline, would be priced at SR0.75 per litre - 25% above the current SR0.60.

Saudi Aramco said on its Website the new grade would suit the majority of existing cars in the state. It said: "Documented information shows that 85% of cars in the kingdom are designed to use grade 91'. The 91-RON fuel is easier to produce and requires fewer octane-boosting components, which are difficult to make with Saudi Arabia's mainly heavier, sour crude oils.