Amman, December 31 (Petra) – The government, through its Oil Derivatives Pricing Committee, on Wednesday decided to reduce the prices of oil derivatives and kerosene, effective January 1.

The decision was made during the committee’s monthly meeting to set local fuel prices for the period from January 1 to 31. Under the new pricing, the price of kerosene will be reduced to JOD0.590 per liter, down from JOD0.620.

The committee reviewed global crude oil and oil derivative prices for December and compared them with November figures. The review showed a decline in the average global prices of gasoline (90 and 95 octane) and diesel.

After applying the approved pricing formula based on international prices, the committee determined that the price of 90-octane gasoline decreased by JOD0.20 per liter, 95-octane gasoline by JOD0.25 per liter and diesel by JOD0.60 per liter.

Accordingly, the selling price of 90-octane gasoline was reduced to JOD0.830 per liter from JOD0.850, 95-octane gasoline to JOD1,055 per liter from JOD1,080 and diesel to JOD0.645 per liter from JOD0.705.

The committee also decided to keep the price of a 12.5-kilogram domestic gas cylinder unchanged at JOD7 per cylinder.

//Petra// AK