Saudi Arabia Releases Market Regulations for Gas, LPG Distribution, Sales Services

Self-Service Vending Machine for Gasco Saudi Arabia (Asharq Al-Awsat)
Self-Service Vending Machine for Gasco Saudi Arabia (Asharq Al-Awsat)
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Saudi Arabia Releases Market Regulations for Gas, LPG Distribution, Sales Services

Self-Service Vending Machine for Gasco Saudi Arabia (Asharq Al-Awsat)
Self-Service Vending Machine for Gasco Saudi Arabia (Asharq Al-Awsat)

Saudi Arabia has taken a significant step towards enhancing the relationship between service providers and consumers by introducing regulations that govern the process of distributing and selling liquefied petroleum gas (LPG).

These regulations aim to streamline and improve the interaction between the parties involved, ensuring efficient and reliable LPG services for consumers.

On Sunday, the Energy Ministry released a guidebook outlining the procedures for providing LPG distribution and sales services, revealing the introduction of self-service and e-services, marking a significant milestone in the sector.

The government issuing the executive regulations, regulatory guidelines, and service provision manual for the dry gas and LPG distribution systems for residential and commercial purposes aims to encourage investment in these activities to serve the public interest and achieve developmental objectives in the country.

The new guidelines will be enforced across all outlets selling gas cylinders, including stores, kiosks, and self-service vending machines.

Service providers are required to promptly disclose any changes in service or product prices, while also offering various payment options, whether electronic or through point-of-sale devices.

Additionally, a comprehensive payment system will be established, encompassing all e-payment methods.

According to the guidelines, gas cylinder retailers are obligated to offer all approved types of cylinders that are in sound condition, clean, and equipped with sealed valves.

These cylinders should be sold at the approved tariff, ensuring that consumers have access to pricing information for other products and services as well.

Service providers must also commit to ensuring that self-service vending machines and kiosks for cylinder sales include clear instructions in both Arabic and English.

Furthermore, service providers must pledge to fulfill orders within a maximum period of six hours from the time of acceptance.

According to the released guidelines, service providers are required to adhere to the procedures governing invoice issuance and payment collection for their services.

Invoices must comply with the relevant regulations and requirements, and they should be issued and provided to the consumer either physically, via text message, or through email.



Saudi Arabia Has Most Stable Inflation Rate Compared to G20 Countries

A supermarket in Saudi Arabia (Asharq Al-Awsat)
A supermarket in Saudi Arabia (Asharq Al-Awsat)
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Saudi Arabia Has Most Stable Inflation Rate Compared to G20 Countries

A supermarket in Saudi Arabia (Asharq Al-Awsat)
A supermarket in Saudi Arabia (Asharq Al-Awsat)

Saudi Arabia has managed to control inflation in recent months, recording 1.5 percent in June, on an annual basis. This shows that the Kingdom is one of the most stable countries in the G20, with an inflation rate that remains inferior to the global target of 2 percent.

Data issued by the General Authority for Statistics (GASTAT) on Tuesday revealed that residential rents had the biggest influence on inflation in June, compared to the same month last year, as they rose by 10.1 percent.

On a monthly basis, the inflation rate decreased in June, reaching 1.5 percent, compared to 1.6 percent the previous month.

Experts told Asharq Al-Awsat that the rate shows the efficiency of Saudi Arabia’s economic management and liquidity to ensure a balance between growth and inflation. They said the government is making great efforts to adopt the adequate procedures and measures in order to confront the wave of inflation and rising prices that has recently swept the world.

Economic policy analyst Ahmed Al-Shehri told Asharq Al-Awsat that the inflation rate in Saudi Arabia is still under control, and below the global target, noting that it has decreased to 1.5 percent last June, after witnessing slight increases over the past months.

According to Al-Shehri, the annual inflation rate reaching 1.5 percent is mainly due to the increase in housing rental prices by 10.1 percent.

He said the cash supply in Saudi Arabia reached SAR2.9 trillion ($778.1 billion), in parallel with the slowdown in annual inflation to record 1.5 percent in June, which reflects the efficiency of economic management and liquidity to ensure a balance between growth and inflation.

For his part, legal advisor and professor of commercial law, Dr. Osama Al-Obaidy, told Asharq Al-Awsat that the government has resorted to early precautionary measures that helped avoid the inflation crisis.

The stability of the inflation rate highlights the success of the Kingdom’s financial policies and its support for the private sector, in order to raise manufacturing productivity and increase strategic reserves of basic materials and ensure their availability, he said.