jordan pulse -

The Fuel Pricing Committee on Friday decided to keep retail prices of major petroleum products unchanged for August, despite a significant rise in global fuel prices driven by renewed regional political tensions.

During its regular monthly meeting, the committee reviewed international petroleum product prices for July compared with June and found a notable increase in average prices, particularly for diesel and kerosene. The rise was attributed to renewed geopolitical tensions in the region during the second half of July, which pushed up global fuel prices.

Following government directives, the committee decided to maintain August fuel prices at the same levels as in July. The prices are set at JD1.000 per litre for Octane 90 gasoline, JD1.310 per litre for Octane 95 gasoline, 850 fils per litre for diesel, and 550 fils per litre for kerosene.

The committee also kept the price of the 12.5-kilogram household LPG cylinder unchanged at JD7, while continuing support for liquefied petroleum gas supplied to the industrial sector, with subsidies amounting to JD1.25 million.

The committee said the decision reflects the government's policy of shielding citizens and economic sectors from sharp fluctuations in global energy markets. It noted that the government has continued to gradually absorb increases in international fuel prices rather than passing the full cost on to consumers.

According to the committee, domestic fuel prices have not reflected the actual costs in recent months. Since the onset of the current crisis through the end of July, the government has borne approximately JD212 million in subsidies and price differentials, including support for household LPG cylinders.

The committee added that this gradual pricing approach has helped cushion the impact of higher global fuel prices on the domestic market, easing financial pressures on households and productive sectors. It reiterated that local fuel prices are calculated based on the monthly average of international petroleum product prices over the 30 days preceding the pricing decision.

The committee affirmed that it will continue to closely monitor developments in global crude oil and petroleum product markets to ensure timely decisions that balance consumer protection, support for economic sectors, and the preservation of Jordan's economic and financial stability.

//Petra// MF