Energy researcher urges gov’t to review tax policy as fuel prices rise

Taxi fuel
(File photo: Jordan News)
AMMANOil and energy researcher Amer Al-Shobaki urges the government to review the taxes imposed on petroleum products as winter approaches, given that indicators suggest there may be price increases per barrel reaching up to $93-100. اضافة اعلان

Shobaki added, in an interview with Jo24 News, that the global price hikes will impact the prices of petroleum products locally, which is unfavorable news, especially as winter approaches.

Cost of living
Shobaki stated that the price of a gasoline tank has reached about JD19.2, and the price of diesel has reached JD16. Prices are expected to rise even higher, affecting transportation prices and all goods and services provided to citizens, as well as impacting the economic cycle.

He warned that the price increases will inevitably lead to higher inflation rates, affecting the purchasing power of citizens and economic growth rates, which would detract investments to the Kingdom and exacerbate poverty and unemployment rates.

Shobaki also pointed out that the decision to freeze the tax on the gas material, issued by royal decree, is still in effect.

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