Ammon News - Oil and energy expert Hashem Aqel has expected a reduction in local fuel prices in next month’s pricing review.

Speaking to Ammon News, Aqel said the price of 90-octane gasoline is expected to fall by 25 fils, or about 3 percent, while 95-octane gasoline may also decline by 25 fils, representing a drop of roughly 2.3 percent.

Diesel prices are likely to decrease by 13 fils per liter, or about 2 percent, while kerosene could fall by 10 fils, around 1.5 percent, Aqel said.

Aqel explained that fuel prices declined in several countries during January 2026 due to a combination of global and local factors linked to international oil markets and fuel pricing mechanisms.

He attributed the expected decline mainly to lower global oil prices, noting that Brent crude fell to lower levels by the end of December 2025 compared to previous months. This was driven by a balance or surplus in global supply, increased production by OPEC+ and other producers, and weaker-than-expected demand growth in some major economies.

This drop in crude prices has directly reflected on local fuel prices, Aqel stated.

He also pointed to slowing demand in major markets, explaining that when demand for oil and petroleum products comes in below expectations — particularly after the end-of-year holiday season or amid moderate economic weakness — global supply effectively rises, putting downward pressure on prices.

In addition, Aqel noted that currency exchange fluctuations can influence local fuel costs in some countries, as a stronger local currency against the US dollar lowers the cost of importing oil and fuel, contributing to price reductions at the domestic level.