Fuel prices to go up AGAIN in October?

Jordan

Published: 2017-09-25 09:34

Last Updated: 2017-09-25 09:59


How Jordanians will react to the hike in fuel prices is anyone’s guess.
How Jordanians will react to the hike in fuel prices is anyone’s guess.
Roya News Source

Bad news for Jordanians as an expert from the fuel sector said on Monday that the government will likely raise the prices of fuel again in October.

Hisham Aqel, the Secretary General of the Gas Stations Owners Association (GSOA), told Roya that the increase will result from the sharp increase in oil prices worldwide and the higher demand for oil from the European and US markets.

Aqel expects Prime Minister Hani Al Mulki to increase petrol prices by 4% and kerosene prices by 6% next month, after raising petrol prices by 30 piastres and kerosene by 15 piastres in September.

OPEC (Organization of the Petroleum Exporting Countries) has seen a decrease in oil production, as well as a decrease in the number of oil excavators in the US in the past couple of months.

Brent Crude oil is currently trading at $56 a barrel, while the U.S. West Texas Intermediate crude hit a nearly four-month high at $50.81 on Thursday.

How Jordanians will react to the hike in fuel prices is anyone’s guess.

 

This article is an edited translation from the Arabic Edition with additional edits