SPA (Riyadh)

Ministry of Energy, Industry and Mineral Resources issued a statement here today announcing that in implementation of the decision of the Council of Ministers issued today, to correct electricity tariffs and prices of gasoline, diesel (for industry and utilities) and aviation fuel, during the Fiscal Year 1439/1440 AH.

Accordingly, the Ministry of Energy, Industry and Mineral Resources will supervise studying these prices and study all related arrangements required to implement the resolution referred to, in order to achieve the desired goals.

It added that this decision falls within the framework of economic reform programs initiated by the Kingdom, in order to enhance economic, environmental efficiency, rationalize consumption of natural resources, namely "energy products" and conserve them for the benefit of the future generations, while taking into account sustaining the competitiveness of the industrial sector and other economic sectors.