Expert expects up to 7% drop in fuel prices

Fuel pumps at an Amman gas station. (Photo: Ameer Khalifeh/JNews)
(File photo: Ameer Khalifeh/Jordan News)
AMMAN — Jordanian energy expert Hashim Akel has forecast a drop in the prices of oil derivatives locally, by up to 7 percent in January, Khaberni reported on Sunday.اضافة اعلان

Akel based his prediction on the fact that prices of oil derivatives have decline since the beginning of this month.

According to Akel, the price of gasoline octane 90 has decreased by 4 percent, which is equivalent to 40 fils per liter, while that of gasoline octane 95 has decreased by 3 percent, equivalent to 25 fils per liter.

The price of diesel decline the most, by 6 percent, or 55 fils per liter, and the price of a liter of kerosene has decreased by 3.3 percent, or 30 fils.

Monitoring data, Akel said, there could be an additional decline in global prices due to the Christmas and New Year holidays, and the liquidation of financial positions of international investors.

Meanwhile, the head of the Syndicate of Owners of Gas Stations and Gas Distribution Centers, Nahar Al-Saidat, said that demand for fuel derivatives has decreased during the past two weeks by about 30 percent, according to Saraya news.

Saidat added that Jordan consumes about 4 billion liters of various types of fuel annually. He also pointed out that based on the syndicate’s monitoring of fuel prices globally during the current month, a decline in diesel and gasoline prices has been recorded, which will be reflected on prices locally at the end of this month.

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