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    Gov't to gradually hike fuel prices to reflect global rise-Energy minister

    June 9, 2022
    oil and gas

    Amman, June 8 (Petra)-Increasing fuel prices is a 'difficult and inevitable' option, in light of their global rises to record levels, Minister of Energy and Mineral Resources, Saleh Kharabsheh, said on Wednesday.

    The minister added that all countries worldwide have started dealing with high oil prices and their reflection on local market.

    The government, he noted, bore the global price difference for diesel for a 6-month period and for 4 months for gasoline, with more than JD450 million.

    Accordingly, he announced the gov't decided to gradually reflect international oil prices on local market to help citizens to avoid paying cost difference in a one-off manner.

    On the sidelines of the energy conference held in the Dead Sea, the minister said the current fuel price does not reflect global rises.

    The Kingdom's current fuel prices are as if a barrel is sold globally at $85, while the price per barrel globally reaches $112, he pointed out.

    The cost of diesel per liter is 81.5 piasters, while it is sold in the local market for 68.5 piasters, which means that the government loses 13 piasters per liter, he noted.

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