Gasoline prices in Jordan for the month of May 2023 witnessed a new rise, contrary to experts’ expectations, while the price of diesel decreased, with kerosene fixed, in conjunction with the decline in global crude oil prices.
The rise in fuel prices in Jordan, which is scheduled to start on May 1 (2023) until the end of the month, comes as the world awaits the voluntary reduction of crude oil production by OPEC + countries.
Today, Sunday, April 30 (2023), the Petroleum Derivatives Pricing Committee announced the prices of gasoline in Jordan and other oil derivatives, which are expected to be implemented in May, according to a statement obtained by the specialized energy platform.
Gasoline prices in Jordan for May 2023
The Petroleum Derivatives Pricing Committee decided to raise the price of gasoline in Jordan for the month of May 2023 by about 5 to 10 fils, while the price of diesel decreased by about 30 fils, with kerosene fixed, according to a statement obtained by the specialized energy platform.
And the prices of gasoline in Jordan for the month of May 2023, and other oil derivatives, which are to be implemented starting from the beginning of the new month, are as follows:
- The price of a liter of 90-octane petrol was raised to 950 fils from 940 fils.
- Raising the price of a liter of 95 octane petrol to 1185 fils from 1180 fils.
- Reducing the price of “diesel” diesel to 755 fils from 785 fils per liter.
- Fixing the price of kerosene at 620 fils.
- Fixing the price of a domestic gas cylinder (liquefied petroleum gas) at 7 dinars.
* (1000 fils is equivalent to a Jordanian dinar = 1.41 US dollars)
It is noteworthy that King Abdullah II of Jordan had instructed the government, at the beginning of this year, to freeze the kerosene tax, as it is the most consumed fuel in the country, during the winter season, in order to reduce the burden on citizens.
Fuel prices in Jordan
The new move in gasoline prices in Jordan for the month of May 2023 coincides with the drop in global crude oil prices in late April, despite the voluntary cut in oil production by some OPEC+ countries weeks ago.
This move contradicts the expectations of experts regarding the decline in oil prices and its derivatives, especially with the exposure of a number of banks, during the month of March, to a wave of crises, which renewed fears about a global recession, according to what was seen by the specialized energy platform.
Fuel prices in Jordan were affected by the strikes that energy markets faced during 2022, after the outbreak of the Russian-Ukrainian war, which jumped crude prices to their highest levels since 2008, following the global financial crisis.
Jordan seeks to secure its needs of oil derivatives, through imports. It buys about 90% of the products it consumes from abroad, in light of the decline in the production of the only oil field produced there, which is the Hamza field.
In turn, the Chairman of the Board of Commissioners of the Energy and Minerals Regulatory Authority, Engineer Ziyad Al-Saaida, announced that the council decided to set the value of the tariff for the fuel price difference item in the electricity bill for the month of May next at a value of zero, which is the same value set for the month of April.
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