Gas prices up by 4.5%

AMMAN — Gas prices will increase by around 4.5 per cent as of April 1, according to the monthly pricing list released by the government on Tuesday.

Based on a decision taken by the government’s pricing committee, one litre of unleaded 90-octane gasoline will be sold during April at JD0.610, up from JD0.585 last month, while one litre of 95-octane will cost JD0.775 compared with JD0.740 in March.

The prices of both diesel and kerosene will remain unchanged at JD0.455 per litre, according to a statement by the Ministry of Industry, Trade and Supply sent to The Jordan Times.

The price of cooking gas also 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.

In late March, Deputy Jamal Gammoh, head of the Lower House Energy and Mineral Resources Committee, expected fuel prices to drop between 4-6 per cent in the domestic market as of April 1.

Basing his expectations on the average price of Brent crude oil on the international market during February, the deputy told The Jordan Times at the time that the average prices for crude oil ranged from $52 to $55.

“The prices of crude oil dropped slightly in February. We expect a drop in prices in Jordan but this drop will be slight,” Gammoh said.

Prices of main oil derivatives rose by around 12 per cent as of March 1.