Jim_Krane]_Energy_Kingdoms__Oil_and_Political_Sur

TABLE 8.1

Price changes of Saudi energy products after January 1, 2016

Product

2015

2016/2017

2018

% change (2015– 2018)

Current benchmark (US$) (source)

Saudi 2018 price as factor

of international

benchmark

Crude oil for power generation (US$/bbl)

$4.23

$5.87

$5.87

39%

$54.20 (2017 Brent)

11%

Heavy fuel oil for power generation (US$/mmbtu)

$0.36

$0.66

$0.66

82%

$6.26 (2016 US no.6 Residual fuel oil)

10%

Natural gas (methane) (US$/mmbtu)

$0.75

$1.25

$1.25

67%

$4.69 (2016 NBP)

27%

Natural gas (ethane) (US$/mmbtu)

$0.75

$1.75

$1.75

133%

$4.69 (2016 NBP)

37%

Gasoline (91 octane) (US$/gallon)

$0.46

$0.77

$1.40

204%

$2.53 (2017 US)

55%

Gasoline (95 octane) (US$/gallon)

$0.61

$0.92

$2.09

240%

$2.53 (2017 US)

82%

Diesel (US$/gallon)Diesel (industry use)

$0.26$0.26

$0.48$0.34

$0.48$0.39

88%51%

$2.65 (2017 US)

18%15%

Water (nonresidential) (US$/cubic meter)

$1.62

$2.43

$2.43

50%

$1.02 (2018 Tucson, AZ, US)*

238%

Water (residential) (US$/cubic meter)**

$0.03

$0.04

$0.04

50%

$0.61 (2018 Tucson, AZ, US)

7%

Electricity (residential, low consumption) (US$/kWh)

$0.01

$0.01

$0.05

260%

$0.13 (2017 EIA)

37%

Electricity (residential, moderate consumption) (US$/kWh)

$0.03

$0.05

$0.05

50%

$0.13 (2017 EIA)

37%

Electricity (residential, high consumption) (US$/kWh)

$0.04

$0.08

$0.08

100%

$0.13 (2017 EIA)

62%

* Base rate for commercial users.** Saudi 2016 price covers first 15m

3 /month only; Abbreviations: bbl, barrels; mmbtu, million British thermal units; NBP, National Balancing Point; EIA, Energy Info

r-

mation Administration.