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August 18 2022 12:58 AM ˚
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Gov’t should control fuel prices or face consequences — experts

fuel
(File photo: Jordan News)
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AMMAN — In light of increasing prices of fuel and other essential commodities, experts are warning that there would be consequences if the government does not intervene to control prices in the local market.اضافة اعلان

MP Salem Al-Omari said this week that “the implications of these increases are felt by low-income citizens, who are burdened by basic living expenses.” In light of difficult economic conditions and spiking prices, “there is a need to reconsider the fuel file and taxes, which have resulted in a significant increase in prices of services and goods,” Omari said.

He called on the government to intervene by setting price ceilings adding that this is its duty, and this should not be left to traders and suppliers.

Economic analyst Mohammad Basheer told Jordan News that as costs rise, demand for goods and services falls, which in turn reflects negatively on taxes collected and revenues entering the state Treasury. 

He pointed to the role of consumers in reacting to price hikes through peaceful means by rejecting successive price spikes, as they did by boycotting the purchase of chicken.

Referring to what is happening now in the market, Basheer pointed to what he called “interconnected consumption chain reaction”, which is triggered by a rise in fuel and energy prices leading to increases in the price of essential goods and services. He added that the problem does not end there, but that there are other severe consequences, such as an increase in the unemployment rate, a rise in societal violence and crimes, and other numerous implications that may follow.

Mohammad Obeidat, head of the National Society for Consumer Protection, told Jordan News that the Ministry of Industry, Trade, and Supply should form a committee of experts to investigate the underlying factors behind the rise in the cost of goods and services before setting price ceilings. 


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