Fuel prices to remain unchanged, kerosene, diesel to rise in August | Business | Ammon News

Fuel prices to remain unchanged, kerosene, diesel to rise in August

[7/31/2017 6:20:06 PM]

AMMONNEWS - The government's oil pricing committee Monday kept the prices of fuel derivatives unchanged, while decided to raise the prices of kerosene and diesel by JD0.015 for each for the month of August, it said in a statement.

The Ministry of Industry and Trade committee, which sets prices on monthly basis according to oil price fluctuations in the global market, said the price crude oil rose to $48.40 a barrel in July compared to $46.48 a barrel in June, which led to higher prices of derivatives globally at varying rates in July, the highest of which were diesel and kerosene, while the price of fuel was slightly higher.

According to the decision, the price of 90-octane gasoline will remain at JD0.650 per litre and 95-octane gas at JD0.865, while the price of kerosene or diesel will rise to JD0.480 per litre, instead of JD0.460 and a cooking gas cylinder will continue to be sold at JD7.00, despite its global price is JD7.20.

A government committee meets monthly to adjust fuel prices to correspond with changes in oil prices on the international market.

Prices of oil derivatives on the local market are calculated based on international prices, with the addition of other costs such as shipment, handling and taxes.

All derivatives are subject to a 6 percent ore JD0.006 stamp fee, in addition to other fixed fees related to transport, storage and insurance costs.

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