AMMAN — The Fuel Pricing Committee on Wednesday held its monthly meeting to announce local fuel prices for October.

 

Reviewing fuel derivative prices during September compared with August, the committee noted a “marked” increase in crude oil and refined product prices, driven by ongoing geopolitical tensions in the region and their impact on global markets, according to a Ministry of Energy statement.

 

Despite this international surge, and out of the government’s keenness to mitigate the impact on citizens and economic sectors, the committee decided to partially adjust fuel prices for October.

 

Under the decision, prices of 90-octane gasoline, 95-octane gasoline and diesel were each raised by JD0.05 per litre, while the price of kerosene remained the same.

 

Following the decision, 90-octane gasoline in October will be sold at JD1.05 per litre, 95-octane gasoline at JD1.360 per litre, diesel at JD0.9 per litre and kerosene at JD0.550 per litre.

 

The price of a 12.5-kilogramme household liquefied petroleum gas (LPG) cylinder remains fixed at JD7, while the government continues to subsidise industrial LPG with support amounting to JD1.8 million for October.

 

The committee stressed that local fuel pricing relies on the monthly average of international prices during the 30 days preceding the pricing date.

 

However, under the gradual approach adopted since the beginning of the crisis, local prices still do not reflect actual global costs, even after adding taxes.

 

Without the government subsidy, actual costs of fuel derivatives in the October pricing breakdown would stand at JD1.077 per litre for diesel, JD1.044 per litre for kerosene, JD1.112 per litre for 90-octane gasoline, and JD1.360 per litre for 95-octane gasoline.

 

The committee pointed out that total subsidies and price differentials borne by the government since the start of the crisis through the end of September reached some JD255 million, resulting from higher global costs and the decision not to fully reflect actual prices in the monthly tariff to ease burdens on consumers and the national economy.

 

It added that the gradual adjustment decision for October reflects official efforts to limit local price volatility and ensure greater stability for citizens and economic sectors amid continued uncertainty in global markets caused by prevailing geopolitical conditions.

 

The committee also stressed that it will continue to assess global energy market variables and their impact on local costs on a monthly basis to ensure timely decisions that balance consumer protection with overall economic and financial stability.

 

Also on Wednesday, the Energy and Minerals Regulatory Commission decided to maintain the “differences in fuel prices” category on monthly electricity bills for July at zero fils per kilowatt-hour.