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جراءة نيوز
Expert Explains Gasoline and Diesel Price Rise
Oil expert Hashem Aqil revealed that the rise in fuel prices for gasoline and diesel is not solely due to higher crude oil prices but is also influenced by several other factors. These include a shortage of refined product supplies, increased transportation and insurance costs, high demand, and refining margins. He explained that geopolitical tensions—such as Middle East disruptions and the Russia-Ukraine war—contribute to reduced supplies and higher prices. Additionally, shipping and insurance costs have increased, global inventories have decreased, exchange rate fluctuations of the US dollar play a role, and seasonal demand variations during different times of the year also impact prices. Aqil pointed out that refining and distribution margins, combined with reduced exports of petroleum derivatives from the Gulf region and Russia, significantly contribute to the higher prices of petroleum products in Jordan. These combined factors influence the final retail price experienced by consumers.
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