AMMAN — The price of Brent crude is
set to fluctuate sharply throughout the month of March, with prices expected to
drop before potentially rebounding, according to oil and
energy expert Hashem Aqel.
اضافة اعلان
Strong start followed by a drop in
pricesAccording to Hala News, Aqel noted
that
Brent crude began the month on a strong note, but prices have since
dropped by 11 percent as of last Saturday.
This decrease has been attributed to
global developments that have led to a decrease in demand, as well as the
fleeing of
high-frequency traders due to bankruptcy cases in the US and the
possibility of bankruptcy for a European bank.
Impact on local pricesAqel estimated the impact of these
price decreases on local prices.
As of now, the decrease in the price
of Brent crude has led to a reduction in gasoline prices by 6 fils/liter for
both types 90 and 95, with a decrease of less than 1 percent. Diesel prices
have dropped by 22 fils/liter, representing a decrease of 2.7 percent, and
kerosene prices have fallen by 15 fils/liter, a decrease of 2.5 percent.
With one week remaining until the
end of March, Aqel expects to see further slight decreases in oil derivative
prices.
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