Gov’t lowers fuel prices, gas cylinders remain unchanged

AMMAN — The government on Thursday decided to lower the prices of gasoline, kerosene, diesel and electricity, while maintaining the price of gas cylinders for December.

The government’s decision, which goes into effect on December 1, was taken in accordance with recommendations by the Energy Ministry’s Fuel Pricing Committee, which convened on Thursday, according to a ministry statement.

The Energy and Minerals Regulatory Commission Council on Thursday also lowered the amount customers pay for the “differences in fuel prices” category on monthly electricity bills, reported the Jordan News Agency, Petra.

President of the council Farouq Hiyari said that the new price would be 18 fils per kilowatt, instead of 22 fils.

Kerosene and diesel will be sold at JD0.605 per litre, down from JD0.625, marking a 3.3 per cent decline.

The cost of one litre of unleaded 90-octane gasoline will decrease by 10 per cent, and be sold at JD0.750, down from JD0.825. A litre of unleaded 95-octane gasoline will sell for JD0.965, down from JD1.060, a drop of 9.8 per cent.

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

However, the committee has not amended the local prices of fuel derivatives since August 1. 

The committee noted that the price of gas cylinders will remain unchanged at JD7.

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.

The committee said that it referred to international oil prices, which showed that the cost of a barrel of crude Brent oil in November stood at $65.42.

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

Hiyari added that lower fuel prices and an agreement between the National Electric Power Company and their Egyptian counterparts led to the reduction in electricity costs.