Price ceilings not permanent — EMRC

AMMAN — Price ceilings listed in the executive programme of the Economic Modernisation Vision for 2023-2025 are not intended to be permanent, and will be subject to changes that are still under consideration, Energy and Minerals Regulatory Commission (EMRC) member Wafa Bakhit said on Thursday.

Bakhit said that the price ceiling for fuel derivatives will be determined by the commission on a monthly basis, which requires the issuance of a special bylaw for price ceilings, the Jordan News Agency, Petra, reported.

The EMRC member said that adapting price ceilings aims at activating competition in markets, which will eventually reflect the interests of Jordanians. Revisiting the price ceiling mechanism for fuel derivatives is one of the main priorities of the executive program for Economic Modernisation Vision.