Saudi Aramco, the kingdom's main oil supplier, raised gasoline prices in June by 34.3% for "91-octane" gasoline and 31.7% for "95-octane" compared to last May.
This increase coincided with the rise in oil prices after sharp declines, and in light of the Corona crisis and the demand for crude.
The company said, in a statement yesterday, Wednesday, that from today, the prices of gasoline "91 octane" will be at 0.90 riyals ($ 0.24) per liter, after it was 0.67 riyals ($ 0.178), and the prices of gasoline "95 octane" will rise to 1.08 riyals ( $ 0.29) from 0.82 riyals ($ 0.218) per liter, in the Saudi market.
Since last March, Aramco has started to decrease gasoline prices every month, after it had declined every three months.
Saudi Arabia - the world's largest oil exporter, with an average of seven million barrels per day - lifted subsidies on gasoline prices and began reviewing it since the beginning of 2018.
Oil prices have increased over the past two days to their highest level in three months, above $ 41 a barrel, at a time when major producers agreed to extend an unprecedented production cut agreement until the end of next July.