AMMAN, Oct. 31 (Petra) – The Fuel Pricing Committee convened Saturday for its monthly policy meeting to set benchmark retail prices for refined petroleum products, effective November 1.

The committee reviewed international benchmark prices throughout October against historic monthly averages, evaluating global market disruptions fueled by regional geopolitical instability.

To insulate domestic consumers and economic sectors from international price spikes, the committee opted to continue its policy of gradual price adjustments, absorbing a significant portion of actual landed costs. The committee approved the following retail rates for November: – Diesel: Fixed at 900 fils per liter.

– Kerosene: Fixed at 550 fils per liter.

– Octane 90 Gasoline: Adjusted upward by 30 fils to 1,080 fils per liter (from 1,050 fils/liter).

– Octane 95 Gasoline: Adjusted upward by 15 fils to 1,375 fils per liter (from 1,360 fils/liter).

– Liquefied Petroleum Gas (LPG): Residential cylinders (12.5 kg) remain pegged at JD 7 per cylinder. Industrial LPG subsidies will continue, carrying an estimated budget allocation of JD 2.4 million for November.

The committee clarified that domestic benchmark pricing typically reflects the 30-day moving average of global oil benchmarks prior to the monthly adjustment date. However, state fiscal buffers continue to absorb the spread between actual landed costs and retail pump prices. Expected landed cost projections through late October were calculated as follows: – Octane 90 Gasoline: Landed cost of 1,132.1 fils/liter vs. capped retail price of 1,080 fils/liter.

– Diesel: Landed cost of 1,034.3 fils/liter vs. capped retail price of 900 fils/liter.

– Kerosene: Landed cost of 1,047.8 fils/liter vs. capped retail price of 550 fils/liter.

Accumulated state subsidies and price variance absorption borne by the government since the start of the crisis through the end of October reached approximately JD 290 million. The committee noted that freezing diesel and kerosene rates directly mitigates operating costs for public transport, industrial production, and household heating during the winter season.

The committee reaffirmed that it will maintain monthly surveillance of international energy markets and physical supply chains to balance fiscal stability with domestic purchasing power protections.

//Petra// AA