Energy expert predicts fuel price hikes in Jordan

Energy researcher Amer Al-Shoubaki anticipates a rise in fuel prices in Jordan for the upcoming month of August.

Al-Shoubaki stated that the prices of petroleum derivatives are expected to increase by 2.5 piasters per liter for both 90 and 95 octane gasoline and by 1.5 piasters per liter for diesel. This prediction is based on Brent crude oil prices, which have remained at $84 per barrel until the end of the month.

He noted that the prices of petroleum products have risen during the first two weeks of July due to geopolitical conditions, regional unrest, and political instability in the United States following the assassination attempt on presidential candidate Donald Trump.

Al-Shoubaki highlighted that the government has been imposing a tax on petroleum derivatives since mid-2019, charging around 7.40 dinars per tank of 90 octane gasoline, 11.50 dinars per tank of 95 octane gasoline, and 3.30 dinars per tank of diesel.

He emphasized that the increase in petroleum product prices necessitates a government review of the special tax on petroleum derivatives due to the growing economic burdens on the national economy and citizens.