Fuel Prices for September Fixed Amid Rising Global Oil Costs

Amman: The Oil Derivatives Pricing Committee announced on Monday that fuel prices for September will remain unchanged, despite an increase in global crude prices. According to Jordan News Agency, the committee reviewed oil derivative prices for August, noting a significant increase compared to July, particularly in diesel and kerosene. This rise is attributed to ongoing geopolitical tensions affecting global markets. Despite these challenges, the committee, guided by government directives, decided to maintain the current prices for September. The prices are set at JD1.00 per liter for 90-octane gasoline, JD1.31 per liter for 95-octane gasoline, JD0.85 per liter for diesel, and JD0.550 per liter for kerosene. Additionally, the price for a 12.5 kg domestic gas cylinder remains fixed at JD7.00. A subsidy for liquefied petroleum gas (LPG) prices in the industrial sector, valued at about JD1.6 million, will also continue this month. The committee emphasized that local petroleum derivative pricing is based on th e average global prices over the 30 days leading up to the pricing date. The government has continued its approach of absorbing a substantial portion of the increased global costs of petroleum derivatives. This strategy is designed to cushion citizens and economic sectors from the full impact of rising prices. The treasury has borne cumulative price differences amounting to approximately JD224 million since the crisis began, including subsidies for domestic gas cylinders. The committee stated that keeping fuel prices stable for September demonstrates the government's commitment to reducing domestic price fluctuations and providing stability amid ongoing global market uncertainties. It emphasized that it will continue to assess monthly changes in global energy markets and their potential impacts on domestic costs, considering geopolitical developments.