AMMAN — The Fuel Pricing Committee on Saturday announced on its monthly meeting the local fuel prices for November.

 

Reviewing the prices of petroleum derivatives in October compared with previous months, the committee noted continued pressure from rising global fuel costs amid ongoing geopolitical tensions in the region and their impact on international markets, according to a statement by Ministry of Energy and Mineral Resources.

 

Despite the increase in international prices, the committee decided to partially adjust local fuel prices for November, in line with the government's efforts to mitigate the impact on citizens and economic sectors.

 

Under the decision, 90-octane petrol increased by JD0.030 per litre, while 95-octane petrol rose by JD0.015 per litre. The prices of diesel, kerosene and household gas remained unchanged.

 

Following the adjustment, 90-octane petrol will be sold at JD1.080 per litre in November, up from JD1.050, while 95-octane petrol will cost JD1.375 per litre, compared with JD1.360 in October. Diesel will remain at JD0.900 per litre and kerosene at JD0.550 per litre.

 

The price of a 12.5-kilogramme household liquefied petroleum gas (LPG) cylinder will remain fixed at JD7. Meanwhile, the government will continue to subsidise industrial LPG, with support amounting to JD2.4 million for November.

 

The committee stressed that local fuel pricing is based on the monthly average of international prices over the 30 days preceding the pricing date.

 

However, under the gradual adjustment approach adopted since the beginning of the crisis, local prices continue to fall short of actual global costs, as the government absorbs part of the difference to ease the burden on citizens and economic sectors.

 

The estimated actual costs of fuel derivatives for November stand at JD1.132 per litre for 90-octane petrol, JD1.034 for diesel and JD1.048 for kerosene, compared with approved local prices of JD1.080, JD0.900 and JD0.550 per litre, respectively.

 

The committee said total subsidies and price differences borne by the government since the start of the crisis through the end of October had reached around JD290 million, reflecting higher global fuel costs and the decision not to pass the full increases on to consumers and the national economy.

 

It added that maintaining diesel and kerosene prices reflects the government's efforts to ease financial pressures on citizens and economic sectors, particularly transport, production and heating, amid continued uncertainty in global markets.

 

The committee also said it would continue to assess developments in global energy markets and their impact on local costs each month, taking into account price movements and geopolitical conditions, with the aim of limiting local price fluctuations and providing greater stability for citizens and economic sectors.