Saudi Arabia hikes gas prices 50%

While the world's attention is focused on Saudi Arabia's latest flare up with Iran, many Saudis are concerned about money troubles at home.

The Saudi government made the decision to hike the price of gas by 50 percent. Saudis lined up at gas stations Monday to fill up before the higher prices kicked in.

Water and electricity prices also are on their way up, and the government intends to scale back spending on roads, buildings and other infrastructure.

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