The Saudi Ministry of Energy, Industry and Mineral Resources decided on Monday to keep the gasoline prices for domestic consumption unchanged for the third quarter of 2018 after it carried out its quarterly review of the prices. The Ministry announced that the price of gasoline for the third quarter will remain unchanged, with the price of 91 gasoline at SR1.37 per liter and the price of 95 gasoline at SR2.04 per liter. The second revision conducted this year was based on export prices in the international markets, hence the gasoline prices could be reduced or increased according to the changes in the global markets, said the Ministry. Notably, the Saudi economy, the largest in the Middle East, has achieved positive growth in the first quarter of this year of 1.2 percent, a sign on the feasibility of economic reforms aimed at diversifying the economy and reducing oil dependency. Saudi General Authority for Statistics (GASTAT) said that the GDP of the non-oil sector in Saudi Arabia achieved a positive growth during the first quarter of this year. Saudi GDP rose 1.2 percent at the end of the first quarter to reach $172.7 billion compared to $170.7 billion during the same period last year, data showed. Non-oil GDP increased 1.6 percent by the end of the first quarter of this year, reaching $98.9 billion. GDP of the oil sector rose 0.6 percent to $72.8 billion compared to $72.4 billion of the first quarter of previous year.
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