Local News

Preferably fixing gasoline prices and reducing diesel by one piaster per liter

Amman Today

publish date 2023-06-22 12:44:23

Compass – Muhammad Saad

Energy specialist, Amer Al-Shobaki, suggested that the government would reduce the price of diesel by one piaster per liter, and fix the price of gasoline of both types. He considered this decrease as a result of the royal will to agree to amend the pricing system for oil derivatives and add the prices of the Arab Gulf markets to the equation for pricing oil derivatives. beginning of the current year.

Al-Shobaki said in shouts reached:compass“Thursday, the monthly average of world oil prices maintained its stability at $75, which is roughly the average price of Brent crude for the past month, but fluctuations dominate the daily pricing, with more supply of Russian, Iranian and Venezuelan oil, and OPEC Plus’s decision to extend the reduction of its actual and voluntary production. With a total of 3.7 million barrels per day, to be added to a Saudi voluntary reduction of one million barrels starting from next month, in the face of fears of a global economic recession after weak economic indicators from China, and the continued tightening of monetary policy in the European Central Bank, waiting for upcoming hikes in the interest rate from the US Federal Reserve until The end of the current year 2023.

It is noteworthy that, at the beginning of June, the government reduced 5 piasters from the price of a liter of 90-octane gasoline, reduced 4.5 piasters from the price of a liter of 95-gasoline, reduced 4 piasters from the price of a liter of diesel, and stabilized the price of kerosene, so that the prices sold in the market became 94 piasters per liter (gasoline 90). , and (gasoline 95) 118 piasters per liter, diesel 78.5 piasters per liter, and kerosene at 62 piasters per liter.

The head of the Energy and Minerals Regulatory Authority, Ziyad Al-Sa’ida, had revealed the move soon to set price ceilings for oil derivatives so that selling at less than them and not exceeding them is allowed, in order to maintain the margin of competition, which leads to a reduction in their prices.

At the end of each month, the government issues a specific pricing for oil derivatives, to be applied for the next month, based on the changes that occur in prices globally and their reflection locally, amid an ongoing state of controversy about what pricing is and the factors involved in it.

Jordan had lifted subsidies on the pricing of oil derivatives since 2012 during the era of the government of Abdullah Ensour, which led to a significant increase in their prices, followed by the imposition of a flat tax on various types of fuel, which raised their prices to unprecedented record levels.

The Energy and Minerals Regulatory Commission recently announced that the door is open to those wishing to invest in the activities of marketing and distributing oil derivatives inside Jordan. Saida said in a press statement that the announcement comes as confirmation of the government’s policy to open the local oil market to competition.

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Jordan News

Source : اخبار الاردن

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