Amman: The Fuel Pricing Committee convened its routine meeting on Tuesday to assess the fuel prices for March and compare them with February’s figures, revealing a notable trend of increasing fuel costs driven by regional developments.
According to Jordan News Agency, the committee’s decision aligns with the government’s strategy to gradually reflect global fuel price hikes in local markets. This policy aims to cushion the impact on Jordanians and various economic sectors. As a result, the committee has decided to adjust the local fuel prices for April in accordance with the global pricing trends.
The Jordanian government has pledged to gradually offset the cost disparities caused by these adjustments until global prices stabilize. Notably, during the initial month of the regional crisis, the government faced direct energy and electricity expenses amounting to approximately JD150 million.
In its latest decision, the committee has kept the price of a 12.5 kg domestic gas cylinder at JD7, subsidizing it by JD2.4 per cylinder for April, despite the rising global prices of liquefied petroleum gas (LPG). Additionally, the price of kerosene remains unchanged at JD.550 per liter.
The revised prices for other petroleum products are as follows: 90-octane gasoline will now be JD.910 per liter, previously JD.820; 95-octane gasoline will be JD1.200 per liter, up from JD1.050; and diesel will cost JD.720 per liter, increased from JD.655.
The committee emphasized that these adjustments will not affect government tax revenues. Instead, the revisions reflect only a portion of the global price increases. It was noted that the government subsidy on diesel and kerosene surpasses the tax imposed on these fuels.
The committee disclosed the actual costs for April: JD1.165 per liter for 90-octane gasoline, JD1.325 per liter for 95-octane gasoline, JD1.120 fils per liter for diesel, and JD1.135 per liter for kerosene.
Despite the global price hikes, the government has not passed the full increases onto consumers. Approximately 37% of the actual increase for 90-octane gasoline, around 55% for 95-octane gasoline, and roughly 14% for diesel have been reflected in local prices. The increase for kerosene has been entirely absorbed by the government, without additional costs to consumers.
The committee reiterated that this decision is part of ongoing efforts to align actual costs with local petroleum product prices, in line with government policies aimed at moderating the effects of global price fluctuations.