Gasoline in September is at third highest price in Jordan's history

fuel Gas
(File photo: Ameer Khalifeh/Jordan News)
AMMAN — The government announced an increase in oil derivative prices in Jordan for the month of September 2023, with the highest percentages since 2014.اضافة اعلان

Amer Al-Shobaki, an expert in oil and energy affairs, stated that the fuel prices for September are the third highest selling prices for both types of gasoline (90 and 95 octane) in Jordan's history.

The government decided to raise the selling price of 90-octane gasoline to 960 fils per liter and increase the selling price of 95-octane gasoline to 1205 fils per liter, as well as diesel to 800 fils per liter.

Decreased refining capacity
Shobaki said that the increase in fuel prices in Jordan is due to the global price hikes, in addition to the fixed tax imposed on the local price since July 2019.

Shobaki explained that diesel is sold in the global markets at around $125 per barrel, a price that doesn't correspond to the current Brent crude oil price, which is approximately $88 per barrel. However, it is higher than the prices recorded in 2011 and 2014 when the average oil price was $110 per barrel.

Despite the increase in the selling price of diesel, it is still being sold for less than it was last year at its peak when it reached $160 per barrel, according to Shobaki. This is due to the decreased refining capacity of oil in international refineries and the scarcity of oil derivative supplies, combined with the agreed-upon and voluntary cuts by OPEC+ members.

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