Fuel prices drop slightly

AMMAN –– The government on Friday lowered the prices of main oil derivatives by 1 to 2 per cent for February.

Under the decision taken by the government’s pricing committee, effective February 1, one litre of unleaded 90-octane gasoline is now being sold at JD0.820, down from JD0.830 in January, while one litre of 95-octane costs JD1 compared to JD1.010 last month.

On the new price list, both diesel and kerosene are JD0.670 per litre, down from JD0.685.

The price of cooking gas, which is also used by households for heating purposes, remains unchanged at JD10 per cylinder under the committee’s decision, which was announced by Minister of Industry, Trade and Supply Hatem Halawani.

Fuel prices, except those of gas cylinders, are no longer subsidised by the government, which lifted oil subsidies in November 2012.

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

The committee, comprising representatives from the ministries of energy and finance and the Jordan Petroleum Refinery Company, calculates the updates based on average international prices during the preceding 30 days and other costs, such as freight and handling, and announces a new price list every month.