{"id":83107,"date":"2024-01-04T00:00:00","date_gmt":"2024-01-04T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2024\/01\/04\/aramco-hikes-diesel-prices-for-manufacturers-by-53-but-impact-on-consumers-should-be-limited\/"},"modified":"2024-01-04T00:00:00","modified_gmt":"2024-01-04T00:00:00","slug":"aramco-hikes-diesel-prices-for-manufacturers-by-53-but-impact-on-consumers-should-be-limited","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2024\/01\/04\/aramco-hikes-diesel-prices-for-manufacturers-by-53-but-impact-on-consumers-should-be-limited\/","title":{"rendered":"Aramco hikes diesel prices for manufacturers by 53%, but impact on consumers should be limited"},"content":{"rendered":"

Aramco has <\/strong>sent notified<\/a><\/strong> industrial and petrochemical companies that it is raising the <\/strong>price of diesel 53% <\/strong>to SAR 1.15 per liter this year from SAR 0.75 last year. Tadawul-listed players are reporting that they expect the price hike to hit their cost of production in 1Q 2024, with many saying they\u2019re looking for ways to minimize the impact on their bottom line (see examples here<\/a> and here<\/a> and here<\/a>).<\/p>\n

Doing the math: <\/strong>Petrochemicals giant Sabic said it expects feedstock prices to surge by c. 1.7% of the company\u2019s annual cost of sales on the back of Aramco\u2019s hike in feedstock prices, with the impact materializing in the current quarter, according to a disclosure to Tadawul<\/a>. Fertilizers maker Sabic Agri-Nutrients is forecasting c. 3.8% increase<\/a> of the company\u2019s annual cost of sales, while Yanbu National Petrochemical Co (Yansab) expects an increase averaging 2.8%<\/a> of the company's annual cost of sales.<\/p>\n

Investors reacted as you might expect: <\/strong>Shares in nearly all Tadawul-listed cement and petrochemical companies plunged at the end of trading yesterday, with Yanbu Cement down 4.1% and Sabic Agri-Nutrients falling 3.4%. <\/p>\n

Aramco has hiked prices for domestic consumers only three times since 2016.<\/strong> Price increases in the last two years have only been limited to SAR 0.11-0.12 per liter, according analysts at EFG Hermes Research, making this an unprecedented price hike.<\/p>\n

Don\u2019t expect a big pass through to consumer inflation: <\/strong>\u201cImpact on consumer names should not be that significant, in our view, as total transport costs are less than 5% of total cash costs for most names. Also, in comparison to 2016 this is not as relevant as prices of electricity, gasoline, etc. also rose significantly then and consumption trends are generally better now,\u201d EFG Hermes Research said. <\/p>\n","protected":false},"excerpt":{"rendered":"

It\u2019s the biggest price hike ever for manufacturers and petchem companies, but the impact on consumer-focused companies should be minimal<\/p>\n","protected":false},"author":1,"featured_media":83108,"comment_status":"","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2570],"tags":[139,2425,10,157,124,138,872],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-83107","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-energy","tag-aramco","tag-energy","tag-enterpriseam-ksa","tag-industry","tag-petrochemicals","tag-sabic","tag-sabic-agri-nutrients","wpautop","entry"],"acf":{"mongo_id":"12379f52-2d29-4e73-8c9e-7e2825e2f0f0","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/1\/278.JPG","photo_position":"above","homepage_title":"","full_issue_title":"Aramco hikes diesel prices for manufacturers by 53%","related_issue":[83104],"teaser":"It\u2019s the biggest price hike ever for manufacturers and petchem companies, but the impact on consumer-focused companies should be minimal","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/2\/.9547fef0-a3f1-4eba-83dd-8e568addea05.mp3"},"yoast_head":"\nAramco hikes diesel prices for manufacturers by 53%, but impact on consumers should be limited - KSA<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/ksa\/2024\/01\/04\/aramco-hikes-diesel-prices-for-manufacturers-by-53-but-impact-on-consumers-should-be-limited\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Aramco hikes diesel prices for manufacturers by 53%, but impact on consumers should be limited\" \/>\n<meta property=\"og:description\" content=\"It\u2019s the biggest price hike ever for manufacturers and petchem companies, but the impact on consumer-focused companies should be minimal\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/ksa\/2024\/01\/04\/aramco-hikes-diesel-prices-for-manufacturers-by-53-but-impact-on-consumers-should-be-limited\/\" \/>\n<meta property=\"og:site_name\" content=\"KSA\" \/>\n<meta property=\"article:published_time\" content=\"2024-01-04T00:00:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/278.JPG?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2024\/01\/04\/aramco-hikes-diesel-prices-for-manufacturers-by-53-but-impact-on-consumers-should-be-limited\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2024\/01\/04\/aramco-hikes-diesel-prices-for-manufacturers-by-53-but-impact-on-consumers-should-be-limited\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Aramco hikes diesel prices for manufacturers by 53%, but impact on consumers should be limited\",\"datePublished\":\"2024-01-04T00:00:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2024\/01\/04\/aramco-hikes-diesel-prices-for-manufacturers-by-53-but-impact-on-consumers-should-be-limited\/\"},\"wordCount\":297,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2024\/01\/04\/aramco-hikes-diesel-prices-for-manufacturers-by-53-but-impact-on-consumers-should-be-limited\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/278.JPG?fit=%2C&ssl=1\",\"keywords\":[\"Aramco\",\"ENERGY\",\"EnterpriseAM KSA\",\"industry\",\"petrochemicals\",\"SAbic\",\"Sabic Agri-Nutrients\"],\"articleSection\":[\"ENERGY\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2024\/01\/04\/aramco-hikes-diesel-prices-for-manufacturers-by-53-but-impact-on-consumers-should-be-limited\/\",\"url\":\"https:\/\/enterpriseam.com\/ksa\/2024\/01\/04\/aramco-hikes-diesel-prices-for-manufacturers-by-53-but-impact-on-consumers-should-be-limited\/\",\"name\":\"Aramco hikes diesel prices for manufacturers by 53%, but impact on consumers should be limited - KSA\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2024\/01\/04\/aramco-hikes-diesel-prices-for-manufacturers-by-53-but-impact-on-consumers-should-be-limited\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2024\/01\/04\/aramco-hikes-diesel-prices-for-manufacturers-by-53-but-impact-on-consumers-should-be-limited\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/278.JPG?fit=%2C&ssl=1\",\"datePublished\":\"2024-01-04T00:00:00+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2024\/01\/04\/aramco-hikes-diesel-prices-for-manufacturers-by-53-but-impact-on-consumers-should-be-limited\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/enterpriseam.com\/ksa\/2024\/01\/04\/aramco-hikes-diesel-prices-for-manufacturers-by-53-but-impact-on-consumers-should-be-limited\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2024\/01\/04\/aramco-hikes-diesel-prices-for-manufacturers-by-53-but-impact-on-consumers-should-be-limited\/#primaryimage\",\"url\":\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/278.JPG?fit=%2C&ssl=1\",\"contentUrl\":\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/278.JPG?fit=%2C&ssl=1\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2024\/01\/04\/aramco-hikes-diesel-prices-for-manufacturers-by-53-but-impact-on-consumers-should-be-limited\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/enterpriseam.com\/ksa\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Aramco hikes diesel prices for manufacturers by 53%, but impact on consumers should be limited\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#website\",\"url\":\"https:\/\/enterpriseam.com\/ksa\/\",\"name\":\"KSA\",\"description\":\"The State of the Nation\",\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/enterpriseam.com\/ksa\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#organization\",\"name\":\"KSA\",\"url\":\"https:\/\/enterpriseam.com\/ksa\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ent.news\/internal\/42482.svg\",\"contentUrl\":\"https:\/\/ent.news\/internal\/42482.svg\",\"caption\":\"KSA\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\",\"name\":\"enterpriseam admin\",\"sameAs\":[\"http:\/\/enterpriseam.testing.projectsarea.com\"],\"url\":\"https:\/\/enterpriseam.com\/ksa\/author\/enterpriseam\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Aramco hikes diesel prices for manufacturers by 53%, but impact on consumers should be limited - KSA","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/enterpriseam.com\/ksa\/2024\/01\/04\/aramco-hikes-diesel-prices-for-manufacturers-by-53-but-impact-on-consumers-should-be-limited\/","og_locale":"en_US","og_type":"article","og_title":"Aramco hikes diesel prices for manufacturers by 53%, but impact on consumers should be limited","og_description":"It\u2019s the biggest price hike ever for manufacturers and petchem companies, but the impact on consumer-focused companies should be minimal","og_url":"https:\/\/enterpriseam.com\/ksa\/2024\/01\/04\/aramco-hikes-diesel-prices-for-manufacturers-by-53-but-impact-on-consumers-should-be-limited\/","og_site_name":"KSA","article_published_time":"2024-01-04T00:00:00+00:00","og_image":[{"url":"https:\/\/i0.wp.com\/ent.news\/2024\/1\/278.JPG?fit=%2C&ssl=1","type":"","width":"","height":""}],"author":"enterpriseam admin","twitter_card":"summary_large_image","twitter_misc":{"Written by":"enterpriseam admin","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/enterpriseam.com\/ksa\/2024\/01\/04\/aramco-hikes-diesel-prices-for-manufacturers-by-53-but-impact-on-consumers-should-be-limited\/#article","isPartOf":{"@id":"https:\/\/enterpriseam.com\/ksa\/2024\/01\/04\/aramco-hikes-diesel-prices-for-manufacturers-by-53-but-impact-on-consumers-should-be-limited\/"},"author":{"name":"enterpriseam admin","@id":"https:\/\/enterpriseam.com\/ksa\/#\/schema\/person\/ca597032db7e4db868359c123cec256d"},"headline":"Aramco hikes diesel prices for manufacturers by 53%, but impact on consumers should be limited","datePublished":"2024-01-04T00:00:00+00:00","mainEntityOfPage":{"@id":"https:\/\/enterpriseam.com\/ksa\/2024\/01\/04\/aramco-hikes-diesel-prices-for-manufacturers-by-53-but-impact-on-consumers-should-be-limited\/"},"wordCount":297,"publisher":{"@id":"https:\/\/enterpriseam.com\/ksa\/#organization"},"image":{"@id":"https:\/\/enterpriseam.com\/ksa\/2024\/01\/04\/aramco-hikes-diesel-prices-for-manufacturers-by-53-but-impact-on-consumers-should-be-limited\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/ent.news\/2024\/1\/278.JPG?fit=%2C&ssl=1","keywords":["Aramco","ENERGY","EnterpriseAM KSA","industry","petrochemicals","SAbic","Sabic Agri-Nutrients"],"articleSection":["ENERGY"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/enterpriseam.com\/ksa\/2024\/01\/04\/aramco-hikes-diesel-prices-for-manufacturers-by-53-but-impact-on-consumers-should-be-limited\/","url":"https:\/\/enterpriseam.com\/ksa\/2024\/01\/04\/aramco-hikes-diesel-prices-for-manufacturers-by-53-but-impact-on-consumers-should-be-limited\/","name":"Aramco hikes diesel prices for manufacturers by 53%, but impact on consumers should be limited - KSA","isPartOf":{"@id":"https:\/\/enterpriseam.com\/ksa\/#website"},"primaryImageOfPage":{"@id":"https:\/\/enterpriseam.com\/ksa\/2024\/01\/04\/aramco-hikes-diesel-prices-for-manufacturers-by-53-but-impact-on-consumers-should-be-limited\/#primaryimage"},"image":{"@id":"https:\/\/enterpriseam.com\/ksa\/2024\/01\/04\/aramco-hikes-diesel-prices-for-manufacturers-by-53-but-impact-on-consumers-should-be-limited\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/ent.news\/2024\/1\/278.JPG?fit=%2C&ssl=1","datePublished":"2024-01-04T00:00:00+00:00","breadcrumb":{"@id":"https:\/\/enterpriseam.com\/ksa\/2024\/01\/04\/aramco-hikes-diesel-prices-for-manufacturers-by-53-but-impact-on-consumers-should-be-limited\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/enterpriseam.com\/ksa\/2024\/01\/04\/aramco-hikes-diesel-prices-for-manufacturers-by-53-but-impact-on-consumers-should-be-limited\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/ksa\/2024\/01\/04\/aramco-hikes-diesel-prices-for-manufacturers-by-53-but-impact-on-consumers-should-be-limited\/#primaryimage","url":"https:\/\/i0.wp.com\/ent.news\/2024\/1\/278.JPG?fit=%2C&ssl=1","contentUrl":"https:\/\/i0.wp.com\/ent.news\/2024\/1\/278.JPG?fit=%2C&ssl=1"},{"@type":"BreadcrumbList","@id":"https:\/\/enterpriseam.com\/ksa\/2024\/01\/04\/aramco-hikes-diesel-prices-for-manufacturers-by-53-but-impact-on-consumers-should-be-limited\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/enterpriseam.com\/ksa\/"},{"@type":"ListItem","position":2,"name":"Aramco hikes diesel prices for manufacturers by 53%, but impact on consumers should be limited"}]},{"@type":"WebSite","@id":"https:\/\/enterpriseam.com\/ksa\/#website","url":"https:\/\/enterpriseam.com\/ksa\/","name":"KSA","description":"The State of the Nation","publisher":{"@id":"https:\/\/enterpriseam.com\/ksa\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/enterpriseam.com\/ksa\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/enterpriseam.com\/ksa\/#organization","name":"KSA","url":"https:\/\/enterpriseam.com\/ksa\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/ksa\/#\/schema\/logo\/image\/","url":"https:\/\/ent.news\/internal\/42482.svg","contentUrl":"https:\/\/ent.news\/internal\/42482.svg","caption":"KSA"},"image":{"@id":"https:\/\/enterpriseam.com\/ksa\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/enterpriseam.com\/ksa\/#\/schema\/person\/ca597032db7e4db868359c123cec256d","name":"enterpriseam admin","sameAs":["http:\/\/enterpriseam.testing.projectsarea.com"],"url":"https:\/\/enterpriseam.com\/ksa\/author\/enterpriseam\/"}]}},"featured_image_src":"https:\/\/i0.wp.com\/ent.news\/2024\/1\/278.JPG?resize=600%2C400&ssl=1","featured_image_src_square":"https:\/\/i0.wp.com\/ent.news\/2024\/1\/278.JPG?resize=600%2C600&ssl=1","author_info":{"display_name":"enterpriseam admin","author_link":"https:\/\/enterpriseam.com\/ksa\/author\/enterpriseam\/"},"jetpack_featured_media_url":"https:\/\/i0.wp.com\/ent.news\/2024\/1\/278.JPG?fit=%2C&ssl=1","jetpack_sharing_enabled":true,"jetpack-related-posts":[],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/posts\/83107","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/comments?post=83107"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/posts\/83107\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/issue\/83104"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/media\/83108"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/media?parent=83107"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/categories?post=83107"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/tags?post=83107"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/brand?post=83107"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=83107"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}