‘Fuel prices expected to rise by 10%’

AMMAN — The prices of fuel in April are expected to rise by 10 per cent, chair of the Lower House Energy Committee MP Raed Khalaileh said Wednesday.

Khalaileh said the rise in the price of crude Brent oil, which reached almost $40 a barrel on the international market, will lead to the expected increase, adding that the final percentage will be decided during a meeting of the government pricing committee by the end of March.

The price of one litre of unleaded 90-octane gasoline is likely to reach  JD0.545, while it is currently sold at JD0.495; a litre of unleaded 95-octane gasoline is expected to cost JD0.715, instead of the current price of JD0.650. 

The prices of diesel and kerosene are expected to witness a rise that could reach JD0.352, after being sold at JD0.320 per litre this month.

The price of a 12-kilogramme gas cylinder, used for cooking and in winter for heating purposes is expected to remain  at JD7, according to Khalaileh, who added that the committee seeks to maintain the price of gas cylinder.

In March, there was no change on fuel prices after they dropped by around 4 to 11 per cent in February.

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

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

Overall taxes on oil derivatives are as follows: 22 per cent on 90-octane and 40 per cent on 95-octane, while the tax is 6 per cent for all other fuel products, except for heavy oil.

All derivatives are subject to a JD0.006 stamp fee.