Energy, finance ministers announce fuel pricing mechanism | Business | Ammon News

Energy, finance ministers announce fuel pricing mechanism

[7/3/2018 8:28:34 AM]

AMMONNEWS - Minister of Energy and Mineral Resources Hala Zwati and Minister of Finance Ezzedine Kanakrieh on Tuesday, announced the fuel pricing mechanism, revenues generated from them and ways of spending these revenues.

Zwati said in a news conference that the announcement of the details of the pricing mechanism today in a direct manner reflects the government's commitment to transparency and comes in response to the demands of the House of Representatives, the Senate as well as citizens.

"The government's approach is based on communication, transparency and openness, which was ordered by His Majesty King Abdullah II in the Letter of Designation in which he stressed the importance of transparency and the need to achieve the interests of the country," the minister added.

Zwati also stressed the need to communicate with the partners on the pricing mechanism to remove any ambiguity or confusion in understanding it, stressing commitment to periodic review of all costs associated with the import, transport, storage and distribution of oil derivatives to reflect the actual cost.

She said the principle of fuel pricing is based on the prices of fuel at the international level, the additional cost of importing oil derivatives from world markets and taxes, sales and fees.

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