Gov’t to Pin Fuel Prices through April, Sources Predict

Fuel station in Amman - (Archives)
Fuel station in Amman - (Archives)

اضافة اعلان

AMMAN —AlGhad— Experts anticipate the government to pin fuel and oil derivative prices through April, 2018, at their current prices, despite the recent increase in global oil prices.

At most, should there be a price hike in April, specialist Fahed Fayez expects it not to exceed 1 per cent, in respect to the 1 per cent rise in the global oil price index.

Meanwhile, Chairman of the gas distribution station owners association Eng Nahar Suaidat said that predicting oil prices is difficult for next month.

The global prices took a dive earlier before rising again, according to Suaidat, which makes projecting the government’s decision a bit tricky.

The next few days could see an unexpected turn in the global price index, he underlined, which also adds to the complication.

However, oil expert Hisham Aqel says that the marginal, slight fluctuations in oil prices globally do not really affect oil derivative prices.

In the meantime, oil prices have peaked to their highest levels since late January these past few days, according to Reuters, as Saudi officials express concerns that OPEC will have to maintain the supply shortage in 2019, as Iran is expected to boost production.

Crude Brent has increased by 2.2 per cent globally, to USD70.54 on the barrel, as gains last week peaked at 6.4 per cent. The highest since July 2017.

The current price offering in Jordan stands at JOD0.76 and JOD0.985 per litre of Octane-90 and -95 fuels, respectively, JOD0.565 per litre of diesel and JOD0.52 per litre of kerosene.

The price per cylinder of household gas remains fixed at JOD7 per tubes, despite the global hike in respective index to JOD8.63.