December 22, 2016 / 5:30 PM / 7 months ago

Saudi's Falih says domestic energy price rise still being finalised

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Saudi Arabia's Energy Minister Khalid al-Falih adjusts his glasses during a news conference after a meeting of the Organization of the Petroleum Exporting Countries (OPEC) in Vienna, Austria, December 10, 2016.Heinz-Peter Bader

RIYADH (Reuters) - Saudi Arabian Energy Minister Khalid al-Falih said on Thursday that it would take some time to finalize new domestic energy prices but the changes would be implemented in 2017.

"Energy price increases will be implemented this year. It will not happen in the next month to two months - I can't tell you when, but it will happen in 2017," Falih said at the 2017 budget news conference in Riyadh.

A rise in local natural gas prices will not happen before 2019, Falih added.

Reporting by Reem Shamseddine; Writing by Rania El Gamal; Edited by Andrew Torchia

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