Gov’t lowers fuel prices by 9.6-11%

AMMAN — The government on Monday decided to lower the prices of fuel derivatives as of Tuesday by between around 9.6 and 11 per cent.

Under the decision, issued by Minister of Industry, Trade and Supply Maha Ali, one litre of unleaded 90-octane gasoline will drop by some 9.6 per cent, from JD0.62 to JD0.56, while a litre of unleaded 95-octane gasoline will drop by around 9.4 per cent, from JD0.80 to JD0.725.

The price of one litre of diesel and kerosene will go down to JD0.405 from JD0.455, registering a drop of around 11 per cent.

The price of the 12-kilogramme gas cylinder, used for cooking and in winter for heating purposes, will go down to JD7.25 from JD7.50, under the new pricing list, at a 3.3 per cent drop.

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 prices of oil, with the addition of other costs such as shipment, handling and taxes.

In remarks to The Jordan Times last week, Gas Stations Owners Association President Fahed Al Fayez expected a drop between 10 and 12 per cent in the prices of oil derivatives, basing his assumption on the decline in the price of Brent crude, which stood at around $45.46 per barrel in August.