Fuel prices up by 3.2-8.6%

[31-01-2017 11:41 AM]

Ammon News - AMMONNEWS - The government's Oil Pricing Committee announced Tuesday it is amending the prices of oil derivatives for the month of February under which the price of 90-octane gasoline was raised to JD0.665 per litre from the current price of JD0.62.

But the committee, which amends prices on monthly basis according to fluctuations in the global oil market, said the price of a cooking gas cylinder will remain unchanged at JD 7.

It said in a statement that the increase in 90-octane gasoline will be 7.3%, including 30 fils to support the treasury as part of the government's fiscal reform measures.

Also under the amendment, 95-octane gasoline will be sold at JD0.88 per litre instead of JD0.81, an increase of 8.6% including 70 fils to support the treasury.

The new prices of diesel and kerosene will be JD0.48 per litre, up from JD0.465, an increase of 3.2% that matches a rise in the two items globally without any additional cost for the treasury, it said.

The government, represented by the Energy and Minerals Sector Regulatory Commission, kept the price of electricity unchanged, pointing out that benchmark Brent oil prices had not surpassed the $55 mark per barrel in January, said the statement.

It said global indicators pointed that crude and oil derivatives' prices rose by 2.1% in January, at an average $54.6 a barrel, up from $53.5 in December, amid a rise in demand that impacted prices locally.

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