.
Saudi King slashes petrol prices
May 1, 2006 @ 4:40 pm · Filed under International News

Saudi Arabia is a country which is really oil-rich. While the rest of the world is struggling with high oil prices, King Abdullah of Saudi Arabia has decreed that oil prices in Saudi Arabia will be reduced to 0.60 riyals per liter, 30% down from the previous price of 0.90 riyals. 0.60 riyals is equivalent to roughly 0.57 ringgit here in Malaysia. Malaysians currently pay RM1.92 (roughly 1.98 riyals) per liter for RON97 grade petrol and RM1.88 (roughly .94 riyals) per liter for RON92 grade petrol.
King Abdullah said this is for the public good and to improve the standards of living for citizens. This price will be in effect until January next year.

taken from a forum in AIC