Fuel prices likely to increase in January 2020

Economy

Published: 2019-12-31 15:00

Last Updated: 2019-12-31 16:16


Fuel prices likely to increase in January 2020
Fuel prices likely to increase in January 2020
Roya News Source

A source at the Ministry of Energy and Mineral Resources said that fuel prices in Jordan will likely increase in January 2020.

Economist Fahd Al-Fayez said in a statement to Roya that the government will likely rise the price of 95-octane gasoline and keep the price of 90-octane gasoline unchanged.

Al-Fayez added that the government will decide to keep the price of kerosene unchanged, although it has increased globally.

He noted that the government had earlier decided to keep the price of kerosene unchanged for a period of four months starting from January and until the end of April, provided that kerosene price will be reduced if it decreases globally during this period.

On diesel price, Al-Fayez expected that the government will keep it unchanged, taking into account that there is a high demand on diesel during winter, although diesel price has risen globally.

He explained, "the government's fiscal revenues from oil derivatives will not be affected by the fact that it imposed a flat tax on fuel prices, which means that the value of the tax won't increase whether fuel prices rise or decrease."