Gov’t hikes fuel prices by over 1 per cent | Business | Ammon News


Gov’t hikes fuel prices by over 1 per cent


[9/30/2017 1:56:45 PM]

AMMONNEWS - The government on Saturday decided to raise the prices of gasoline, kerosene and diesel by more than 1 per cent, but kept the price of gas cylinders unchanged for the month of October.

The government’s decision, which goes into effect on Sunday, was taken in accordance with the recommendations of its fuel pricing committee, which monitors oil prices on the global market.

Under the decision, one litre of unleaded 90-octane gasoline is up by JD 0.10 and will be sold at JD 0.690, while a litre of unleaded 95-octane gasoline was hiked by JD 0.15 and will be sold for JD 0.910.

On the other hand, the price of kerosene and diesel was up by JD 0.25 and will be sold at JD 0.520 per litre.

The committee noted that the price of gas cylinders will remain unchanged at JD7 despite their actual increase to JD8.36 internationally.

The committee said that it took the decision as international oil prices showed that the cost of a barrel of Brent crude went up from $51.54 in August to $55.95 in September.

Globally, prices of oil derivatives were up at varying rates in the past month, the highest of which were diesel, gas and Liquefied Petroleum Gas (LPG), it pointed out.

The 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 JD 0.006 stamp fee, in addition to other fixed fees related to transport, storage and insurance costs.

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