Jordan: Fuel prices lowered by up to10 percent

Jordan: Fuel prices lowered by up to10 percent
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Published January 3rd, 2016 - 08:11 GMT via SyndiGate.info

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Prices of oil derivatives in the local market are calculated based on international oil prices. (File photo)
Prices of oil derivatives in the local market are calculated based on international oil prices. (File photo)
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The government on Thursday decided to decrease the price of gasoline by around 2.8 per cent and the price of kerosene and diesel by 10 per cent as of Friday. 

The decision, issued by Minister of Industry, Trade and Supply Maha Ali, was taken based on the government pricing committee’s review of international oil prices, according to a ministry statement. 

One litre of unleaded 90-octane gasoline will be sold at JD0.520, instead of JD0.535. 

A litre of unleaded 95-octane gasoline will cost JD0.680, instead of JD0.700, while diesel and kerosene will be sold at JD0.360 per litre instead of JD0.400.

The price of a 12-kilogramme gas cylinder, used for cooking and in winter for heating purposes, remains at JD7. 

A government pricing committee meets monthly to adjust prices in a manner that corresponds to changes in oil prices on the international market.

Prices of oil derivatives in the local market are calculated based on international oil prices, taking into account other costs such as shipment, handling and taxes. 

President of the Gas Station Owners Association (GSOA) Fahed Al Fayez recently expected the drop in crude Brent oil prices on the international market during December to lead to a 4.5-12 per cent decrease in local fuel prices. 

In remarks to The Jordan Times earlier this week, Fayez said the product’s global price decreased by 13 per cent in December compared to November.

The GSOA president also said that the prices of 90 octane and 95 octane gasoline are likely to go down by 4.5-6 per cent, noting that his expectations could carry a margin of error of 1-2 per cent. 

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