Government lowers prices of gasoline, kerosene and diesel

AMMAN — The government on Friday decided to lower the prices of 90-octane gasoline, kerosene and diesel by JD0.015, and the price of 95-octane gasoline by JD0.025, while maintaining the price of gas cylinders unchanged for July.

The government’s decision, which went into effect on Saturday, was taken in accordance with the recommendations of the Fuel Pricing Committee, which said that the price of a barrel of crude oil dropped from $50.48 in May to $46.48 in June, the Jordan News Agency, Petra, reported.

Under the decision, kerosene and diesel will be sold at JD0.465 per litre, down from JD0.480, marking a 3.1 per cent drop.

The cost of one litre of unleaded 90-octane gasoline will drop by 2.3 per cent, to be sold in July at JD0.650, down from JD0.665 in June, while a litre of unleaded 95-octane gasoline will decrease in July to JD0.865 from JD0.890 in June, marking a 2.8 drop, according to Petra. 

A government committee meets monthly to adjust fuel prices to correspond with changes in oil prices on the international market.

The committee noted that the price of gas cylinders will remain unchanged at JD7, despite a real-term increase to JD7.4.

Prices of oil derivatives on the local market are calculated based on international prices, with the addition of other costs such as shipment, handling and taxes. 

All derivatives are subject to a JD0.006 stamp fee, in addition to other fixed fees related to transport, storage and insurance costs, Petra reported.