‘Slight drop expected in fuel prices’

AMMAN – Prices of fuel products in the domestic market may see a slight drop next month, a government official said Wednesday. 

The government source, who preferred to remain unnamed, told The Jordan Times that prices could go down by no more than 2 per cent as the drop in international oil prices is around this rate. 

The official indicated that the price of a 12.5-kilogramme gas cylinder, which currently stands at JD8, will remain unchanged. 

Prices of oil derivatives in the local market are calculated based on international prices of Brent crude oil and ready-to-use fuel products, with the addition of other costs such as shipment, handling and taxes on gasoline.

The source said the average price of Brent crude was around $65 a barrel last month, while this month its average price hovered around $64 per barrel. 

The new prices of fuel products for July are set to be announced next Tuesday following a meeting of the government pricing committee, which convenes on a monthly basis to adjust prices in a manner that corresponds to changes in oil prices on the international market. 

Prices for June were increased by nearly 5 per cent compared to the previous month.
Currently, one litre of unleaded 90-octane gasoline costs JD0.655, while 95-octane is sold for JD0.840.
The price of one litre of diesel and kerosene is JD0.495.