A number of Saudi-listed firms announced on Monday that the new fuel price hike by Aramco will affect their production or operating expenses.
The state-owned oil giant Saudi Aramco had issued notifications to businesses in the kingdom on January 1, 2026, about the adjustment of the pricing of fuel products, including diesel, which would be effective immediately.
Market data indicates that the cost of diesel increased by about 8 percent, which was SAR 1.66 to SAR 1.79 per liter.
Dairy firm Almarai has reported that the price increase will bring direct and indirect supply chain expenses of about SAR 70 million ($18.7 million) to its business in the forthcoming year, and Northern Region Cement projected that its production costs will increase by 11 percent.
The dairy firm stated that “The direct impact of the increase in diesel price will be an estimated additional cost of 70 million Saudi Riyals for the year 2026, in addition to an expected indirect impact from other parts of Almarai’s supply chain.”
Other companies, such as National Agricultural Development Company (Nadec), Saudi Ceramics, Al-Jouf Cement, Yanbu Cement, City Cement, and Najran Cement, indicated that the increase in the oil price will increase the cost of production or operation.
Therefore, the companies stated that the monetary effect would most likely be reflected in the financial performance of the first quarter of the year.
The majority of the listed companies claimed to be enrolled or participating in a government-backed program, the Industrial Sector Competitiveness Program, that aims to offer energy efficiency grants or subsidies to help cover the adjustments in fuel prices.
