Saudi Arabia to maintain gasoline price ceiling in medium-term, official tells Al-Arabiya

RIYADH: The Saudi government will continue to implement a ceiling on gasoline prices in the medium-term, the Kingdom’s deputy minister for macro-fiscal policy at the Ministry of Finance told Al-Arabiya. 

Thamer Al-Jared said the Kingdom’s objection to the International Monetary Fund’s proposal to raise the ceiling of gasoline prices comes in line with the government’s policy. 

He said with the current policy the government seeks to keep inflation under control. 

Global inflation exceeded 8 percent in many countries, while it is still at 2.3 percent in Saudi Arabia, which reflects the success of the Kingdom’s policies in this regard.