The bomber was reportedly driving to a mosque in the vicinity of the consulate, while he was pulled over by the police.
The area around the consulate has been cordoned off by security forces and the consulate's staff members have been moved to a safe location.
A US State Department spokesperson said US officials were working with Saudi officials to get more information on the explosion.
Al-Qaeda-linked militants attacked the US consulate in Jeddah in 2004 , killing five local staff members. Four gunmen were also killed in the three-hour battle on the heavily guarded compound.
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