Fuel prices see increase in May

AMMAN — The government’s fuel pricing committee on Saturday decided to raise the prices of a number of fuel derivatives for May.

The committee's decision is based on the government directives to "gradually" resume matching fuel derivatives with international prices after maintaining the prices unchanged for several consecutive months, the Jordan News Agency, Petra, reported.  

The price of one litre of unleaded 90-octane gasoline will see a price increase of JD0.35 in May, selling at JD0.885, compared to JD0.850 in April.

The price per litre of unleaded 95-octane gasoline will be increased by JD0.35 to reach JD1.12 in May, against JD1.085 in March, according to an Energy Ministry statement reported by the Jordan News Agency, Petra.

The price of one litre of diesel and kerosene will see a price increase of JD0.35 each in May, selling at JD0.650 instead of JD0.615. 

The increase on the price of one litre of unleaded 90-octane gasoline and unleaded 95-octane gasoline accounted for 24 and 20 per cent respectively, while diesel and kerosene for 55 per cent.

The price of gas cylinders will remain at JD7 as usual.

Prices of oil derivatives in the local market are calculated based on international prices, in addition to other costs, including shipping and taxes.

The committee said that it referred to international oil prices, which showed that the cost of a barrel of crude Brent oil reached $104.4 in April.

The current prices of fuel derivatives in the Kingdom are calculated considering that the cost of a barrel of crude Brent oil is $74.  

The Energy and Minerals Regulatory Commission on Saturday also decided to maintain the “differences in fuel prices” category on monthly electricity bills for May at zero fils per kilowatt-hour, according to a commission statement.