Fuel prices expected to go up in June

AMMAN — Fuel prices in the domestic market are expected to go up by 4 per cent to 5 per cent in June, an informed source told The Jordan Times Thursday.

The source, who requested to remain unnamed, said gasoline prices may see an increase of about 3.4 per cent, while diesel and kerosene may go up by 5 per cent, whereas the price of cooking gas cylinders would remain unchanged. 

Gas Stations Owners Association President Nahar Seidat also expected a rise in the domestic prices of oil derivatives in June as global oil prices in May recovered tangibly. 

He told The Jordan Times that the price of Brent crude oil, a global benchmark, recovered by nearly 14 per cent in May over the previous month, with the average price going up from around $41 a barrel to an average of $48 a barrel in the first three weeks of May. 

On Thursday, Brent crude was around $50 a barrel, according to international news agencies. 

"This rise in international prices will surely affect the domestic market, but the government decides how much the increase will be," Seidat said. 

He attributed the increase in oil prices globally to lower reserves of the US, the world's largest consumer, and to disruptions in oil production in some producing countries, such as Canada due to wildfires. 

At present, kerosene and diesel are sold at JD0.365 per litre. One litre of unleaded 90-octane gasoline costs JD0.535, while a litre of unleaded 95-octane gasoline is sold at JD0.705.