Riyadh – Mubasher: Saudi Arabia would receive an average of $8.2 billion ($30.75 billion) per year as additional revenue from domestic sales and exports in the fluctuating price of crude oil.

The Kingdom would also receive $5 billion ($18.8 billion) on an annual basis in the fixed $60 per barrel (pb) scenario, according to a recent report issued by King Abdullah Petroleum Studies and Research Center (KAPSARC).

This value will be allocated as a result of deregulating fuel prices, encouraging consumers to travel by more efficient public transport modes, and leading to significant energy savings.

“Despite the increase in transport fuel price, the net gain for Saudi Arabia in the varying crude oil price scenario remains positive as a result of substantial increase in revenue and the introduction of more convenient public travel modes,” according to the report.