‘3-4.5% drop expected in fuel prices’

AMMAN — Prices of oil derivatives for December are expected to drop by 3 to 4.5 per cent, Gas Stations Owners Association (GSOA) President Fahed Al Fayez said on Wednesday.

The prices of some fuel products are expected to decrease by around 3 per cent, while others could drop by 4 to 5 per cent, Fayez added, basing his prediction on the average prices of fuel on the international market.

The price of a barrel of Brent crude oil stood at $45.61 on Wednesday afternoon.

A government pricing committee meets monthly to adjust prices in a manner that corresponds to changes in oil prices on the international market.

Fayez noted that prices of oil derivatives have been dropping over the past two months. 

Prices of fuel products in the local market are calculated based on international oil prices, taking into account other costs such as shipment, handling and taxes.

At present, one litre of unleaded 90-octane gasoline is sold at JD0.555, while a litre of unleaded 95-octane gasoline costs JD0.720, and diesel and kerosene are sold at JD0.410 per litre.

The price of a 12-kilogramme gas cylinder, used for cooking and in winter for heating purposes, is JD7.