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Oil Expert: Governments Bear Some Fuel Price Increases
The article discusses the Jordanian government's decision to keep the prices of petroleum derivatives for August at the same levels as July, aiming to ease the financial and economic burdens on citizens and the productive sectors. It explains that the prices of derivatives are based on the average global prices over a 30-day period, and that recent geopolitical tensions and concerns over maritime navigation in the Strait of Hormuz and the Bab el-Mandeb Strait have led to continuous increases in global prices, exerting pressure on the local market. The article also notes that the government has so far borne around 212 million dinars in price difference costs, and that a gradual approach in reflecting these increases has helped protect citizens from sharp market fluctuations. It clarifies that the decision to maintain prices was made despite a rise in the average global prices, especially for diesel and kerosene, with the goal of minimizing the impact of these fluctuations on the economy and the population. The article concludes that the government continues to support household gas prices and maintains support for specific sectors, with the overall aim of stabilizing the market and preventing the effects of rising global prices from harming Jordanians.
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