Amman – The government announced yesterday that it has adopted a local pricing mechanism for petroleum products based on the monthly average of global prices during the 30 days preceding the pricing date.
In a statement, the government said that over recent months, since the beginning of the crisis, it has pursued a gradual approach to adjusting petroleum product prices in order to limit the impact of global price increases on the domestic market.
The statement estimated the total subsidies and price differences borne by the government from the beginning of the crisis through the end of October at JD290 million. The costs resulted from higher global petroleum prices and the government’s decision not to fully reflect those increases in domestic prices, as part of efforts to ease the burden on citizens and economic sectors.
The government also confirmed that it would continue its gradual approach to adjusting petroleum product prices in November. It kept diesel, kerosene and household cooking gas prices unchanged, while increasing gasoline prices by 30 fils per liter for 90-octane gasoline, bringing the price to 1,080 fils per liter, up from 1,050 fils.
The price of 95-octane gasoline was also increased by 15 fils per liter, reaching 1,375 fils per liter, compared with 1,360 fils previously.
The government maintained the price of diesel at 900 fils per liter and kerosene at 550 fils per liter. It also kept the price of a 12.5-kilogram household liquefied petroleum gas cylinder at JD7.
In addition, the government will continue providing support for liquefied petroleum gas allocated to the industrial sector, with the subsidy reaching JD2.4 million for November.
The government noted that the expected actual costs of petroleum products for the month continue to exceed domestic selling prices. Based on the data available to date, the actual cost of 90-octane gasoline was estimated at 1,132.1 fils per liter, compared with a regulated selling price of 1,080 fils.
The actual cost of diesel stood at 1,034.3 fils per liter, while its selling price was maintained at 900 fils. Kerosene had an actual cost of 1,047.8 fils per liter, while its selling price remained at 550 fils.
The government said that maintaining diesel and kerosene prices reflects its commitment to easing the financial burden on citizens and economic sectors.
It added that the gradual adjustment policy is aimed at limiting fluctuations in domestic fuel prices and providing greater stability for citizens and economic sectors.
The government stressed that it continues to assess developments in global energy markets and their impact on domestic costs on a monthly basis, taking into account price movements and geopolitical conditions affecting energy markets.
Source: Al-Ghad
