AMMAN — The fuel pricing committee on Monday decided to keep the local prices of main petroleum products unchanged for September at August levels, following government directives.

 

The committee reviewed fuel derivative prices during August compared with July, which revealed a “noticeable” increase in average monthly rates, particularly for diesel and kerosene, driven by ongoing geopolitical tensions in the region and their impact on global markets, the Jordan News Agency, Petra, reported.

 

Despite the rise in international benchmarks compared with the previous month, and under government directives, the committee decided to maintain the rates of main fuel derivatives for September at their August levels.

 

Consequently, 90-octane gasoline remains at 1,000 fils per litre, 95-octane gasoline at 1,310 fils per litre, diesel at 850 fils per litre, and kerosene at 550 fils per litre.

 

The price of a 12.5kg cooking gas cylinder was also kept unchanged at JD7, while liquefied petroleum gas (LPG) supplied to the industrial sector will continue to receive subsidies totalling JD1.6 million for September.

 

The committee stressed that domestic fuel pricing relies on the monthly average of global rates during the 30 days preceding the pricing date.

 

As part of the gradual approach adopted since the onset of the crisis, the government continues to absorb a “significant” portion of rising global energy costs rather than passing full increases onto local consumers, aiming to mitigate the impact on citizens and economic sectors.

 

Cumulative price differentials absorbed by the Treasury due to this policy and the non-reflection of actual market rates since the start of the crisis until the end of August have reached some JD224 million, including domestic gas cylinder subsidies, according to the committee.

 

The committee noted that maintaining stable prices for September reflects official keenness to curb local fuel price volatility and provide greater stability for citizens and business sectors amidst persistent uncertainty in global markets resulting from geopolitical developments.

 

The committee also emphasised that it would continue to evaluate variables in global energy markets and their reflections on local costs on a monthly basis, ensuring timely decision-making that balances protecting citizens and economic sectors with safeguarding overall economic and financial stability.