Jordan’s Petroleum Products Pricing Committee decided on Wednesday to raise the prices of both grades of gasoline and diesel by 50 fils per litre from Oct. 1, while keeping the prices of kerosene and household gas cylinders unchanged, as part of its monthly fuel-price review.
New fuel prices
The committee set the price of a litre of 90-octane gasoline at 1050 fils, 95-octane gasoline at 1360 fils and diesel at 900 fils. It kept the price of kerosene at 550 fils per litre and that of a 12.5 kg household liquefied petroleum gas cylinder at 7 dinars.
The committee also decided to continue providing support worth 1.8 million dinars for liquefied petroleum gas allocated to the industrial sector during October.
Gaps between actual costs and selling prices
The committee said its review of petroleum product prices in September compared with the previous August showed a notable increase in global crude oil and petroleum product prices, driven by continuing geopolitical tensions in the region and their impact on international markets. It said the partial adjustment was intended to limit the effects of the increases on citizens and economic sectors.
It added that domestic prices, despite the adjustment and under the approved gradual-pricing policy, remained below the actual costs linked to global prices. The actual cost of a litre of diesel was 1077.32 fils, compared with a selling price of 900 fils; kerosene cost 1043.79 fils, compared with 550 fils; 90-octane gasoline cost 1111.68 fils, compared with 1050 fils; and 95-octane gasoline cost 1360.08 fils, compared with 1360 fils.
255 million dinars in support and price gaps
The total support and price gaps borne by the Jordanian government since the start of the crisis through the end of September stood at about 255 million dinars, according to the committee, with the aim of providing greater stability and easing the burden on consumers and the national economy.
The committee said it would continue to assess changes in global energy markets and their impact on domestic costs on a monthly basis, in line with price developments and geopolitical conditions.
