Saudi Arabia looking at cutting gasoline subsidiesStaff writer ▼ | September 7, 2015
Saudi Arabia is looking more closely at cutting gasoline subsidies, a move it has been studying for years, after the United Arab Emirates did so last month, with both states trying to save money in an era of cheaper oil, a newspaper reported.
Oil industry 15 US cents per liter
United Arab Emirates let gasoline prices rise 24 percent last month.
The newspaper did not elaborate on when the government might make a decision and gave no details on the possible reform. A source in the Gulf oil industry told Reuters that Saudi officials were "seriously" thinking about reducing fuel subsidies gradually.
Unleaded gasoline costs only about 15 US cents per liter in Saudi Arabia, the world's lowest price after Venezuela, according to website mytravelcost.com. ■