Sharp rises in fuel prices expected at the end of the month — energy expert

(Photo: Envato ELements)
AMMAN — Expert in oil and energy affairs Hashem Akel said Tuesday he expects sharp increases in the prices of oil derivatives to occur at the end of the month, according to Khaberni.اضافة اعلان

He added that he expects that the increase of gasoline 90 will reach 5.5 percent, while gasoline 95 will go up to 4.5 percent, and diesel will increase by 8 percent.

Akel said that reducing fuel prices at the end of this month is impossible due to the sharp rises in international prices.

Akel explained that the Fuel Pricing Committee sets the pricing according to international prices.

He said that the difficulty with the idea of stabilizing prices comes from the fact that the fuel tax revenues go to fund specific projects, and that the failure to generate such revenues, leads to the cancellation or postponement of these projects or the recourse to borrow money to implement projects.

Akel pointed out that reducing the flat tax on fuel is one of the main solutions to prevent a rise in fuel prices.

Jordanians pay a fixed tax according to Akel, which is JD.57.5 on gasoline 95 per liter, and JD.37 on gasoline 90 per liter, as for kerosene and diesel they pay JD.16 per liter. 

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