ZAWYA-NEWS: Saudi firms say Aramco’s oil price hike to drive operating costs
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Several Saudi-listed companies reported that Aramco's recent fuel price hike will significantly impact their operating costs. Diesel prices increased by about 8%, from SAR 1.66 to SAR 1.79 per litre. Almarai estimates an additional SAR 70 million ($18.7 million) in costs, while Northern Region Cement anticipates an 11% rise in production expenses. Other companies, including Nadec and various cement firms, also expect higher costs. Many firms are participating in a government initiative to mitigate these impacts through energy efficiency grants.
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