Ammon News - Energy expert Hashem Aqel revealed that global oil markets have recently experienced a sharp decline in prices following signs of geopolitical de-escalation and talks about an expected agreement in Geneva.

This rapid drop has led Jordanians to the usual question: how will this global decline reflect on local fuel pricing for next July?

Aqel expects further positive developments in global markets and additional price decreases if the agreement is implemented and leads to the reopening of the Strait of Hormuz.

He projected that gasoline prices in next month’s pricing could decrease by 1.5% to 3%, equivalent to 15–30 fils. He also forecast a 2% to 3.5% drop in Octane 95 gasoline, or about 25–45 fils.

For diesel, he expects the price to remain stable to absorb previous gaps, or see only a symbolic decrease not exceeding 1%.