jordan pulse -

The government has decided to hold prices of the main petroleum products steady for September at their August levels, despite a rise in average global crude oil and product prices — particularly diesel and kerosene — according to the Petroleum Products Pricing Committee.
The committee said in a Monday statement that global markets saw crude oil and petroleum product prices rise in August compared with July, amid continued geopolitical tensions in the region.
Under the decision, the price of 90-octane gasoline was held at 1,000 fils per liter, 95-octane gasoline at 1,310 fils per liter, diesel at 850 fils per liter, and kerosene at 550 fils per liter.
The committee also held the price of a 12.5-kilogram household gas cylinder at JD7, while continuing to subsidize liquefied petroleum gas allocated to the industrial sector, at a cost of up to JD1.6 million for September.
Jordan's local pricing mechanism for petroleum products is based on the average global prices over the 30 days preceding each pricing date.
The committee said that, under the gradual-adjustment policy it has followed since the start of the crisis, the government continues to absorb a large share of the rise in global petroleum product costs rather than passing the full increase on to local prices, in order to limit the impact on citizens and economic sectors.
The cumulative price gap the treasury has absorbed as a result of this gradual approach — not fully reflecting actual global prices in the monthly local pricing — has reached roughly JD224 million since the start of the crisis through the end of August, including the subsidy on household gas cylinders.
The committee said the decision to hold prices steady for September aims to limit fluctuations in domestic fuel prices and provide greater stability for citizens and economic sectors, amid continued uncertainty in global markets driven by geopolitical conditions.
It affirmed it will continue to assess developments in global energy markets and their impact on local costs on a monthly basis, to ensure appropriate decisions are made in light of price movements and the geopolitical conditions affecting them.