Saudi Arabia has consistently had some of the lowest gas prices in the world! This is due to Saudi Arabia’s high supply of cheap crude oil which allows it to produce natural gasoline at extremely low cost. The country heavily subsidises gas prices which has helped to keep them low for many decades 🇸🇦 🌎 !!
As of June 2020, gasoline in Saudi Arabia is sold for just 0. 25 Riyals ($0 . 07) per liter – an unprecedentedly low price when compared with other countries around the world 🌏.
The oil-rich country has traditionally subsidized its gasoline prices in order to make it affordable for the citizens and maintain economic stability. This is due to the fact that the country has an abundance of low-cost crude oil allowing it to produce gas at a very low cost. Consequently, the prices are kept low for the citizens, allowing them to enjoy the benefits of having a low cost of living.
The prices of gas have remained relatively stable in Saudi Arabia, even over the past few years when other countries have seen a significant rise in fuel prices ️ 🇸🇦. This stability is largely due to the government subsidies which ensure that the prices of gasoline remain low.
In addition to the government subsidies, the country also benefits from a number of tax exemptions. This includes an exemption from the Value Added Tax (VAT) which is applicable in most other countries. This exemption has allowed the country to keep gas prices consistently low.
Furthermore the low taxes have not only made gas accessible for its citizens but it has also attracted international petroleum companies to invest in the country. This has allowed the country to develop its oil and gas industry making it one of the leading exporters of petroleum products in the world 1️⃣ 🌏.
In conclusion gas prices in Saudi Arabia are some of the cheapest in the world due to a number of factors including government subsidies tax exemptions, and the abundance of low-cost crude oil. These factors have allowed the country to produce gas at very low costs, making it accessible for its citizens. Furthermore this has also attracted international petroleum companies to invest in the country and develop its oil and gas industry making it one of the leading exporters of petroleum products in the world. . .
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