Fuel prices up by 12%

AMMAN — Prices of main oil derivatives will increase by around 12 per cent as of March 1, according to the monthly fuel price list the government released Saturday.

Based on a decision taken by the government’s pricing committee, one litre of unleaded 90-octane gasoline will now be sold at JD0.585, up from JD0.525 last month, while one litre of 95-octane will cost JD0.74 compared with JD0.66 in February.

Both diesel and kerosene are JD0.455 per litre on the new price list, up from JD0.405, according to a Ministry of Industry, Trade and Supply statement sent to The Jordan Times. 

The price of cooking gas, which is also used by households for heating purposes, remains unchanged at JD8 per cylinder under the committee’s decision, the statement said.

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

A government pricing committee meets monthly to adjust prices in a manner that corresponds to changes on 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 oil prices during the preceding 30 days and other costs such as freight and handling.