Local News

Expect a stabilization of the price of petrol and a reduction in the price of diesel

Amman Today

publish date 2023-06-29 11:49:25

Two specialists in the fuel sector expect the prices of gasoline to be fixed in both parts (90-95), and to reduce the price of diesel.

Specialists Fahd Al-Fayez and Hashem Akl told:The kingdomThe price of 90-octane gasoline may be fixed at 900 fils/liter, and 95-gasoline at 1140 fils/liter.

Al-Fayez explained that there is a possibility to reduce gasoline prices by no more than 2%.

He pointed out that the diesel price may be reduced by 3-5%.

Akl indicated that these prices are the result of slow changes in Brent crude prices. As a result of weak global markets.

And he indicated that one of the most important reasons for market weakness is the US Federal Reserve’s decision to fix prices, which did not affect demand; Because there is an increase of at least two times for the end of the year; Which emptied the installation decision of its content.

He pointed out that Chinese demand is still weak, and Chinese industrial production is witnessing a significant decline.

He added that there is an important element that may lead to raising prices during the next month and the following, which is Saudi Arabia’s decision to voluntarily cut one million barrels.

The kingdom

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Jordan News

Source : اخبار الاردن

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