Jordan Announces Ninth Reduction In Product Prices

Jordan on 15 January announced a ninth reduction in petroleum product prices since 10 July, as crude oil prices continued to slide on the international oil market from the peak of $147/B reached in July. Under the new price schedule, which will be in effect from 16 January to 12 February, the prices of 90 and 95 octane unleaded gasoline are unchanged at JD0.350 ($0.49)/liter and JD0.405 ($0.57)/liter respectively, while diesel and kerosene prices will fall by 5.6% to JD0.335 ($0.47)/liter. The price of diesel for bunkers fell 11.7% to JD0.553 ($0.78)/liter, while the LPG price for household use falls by 3.8% to JD6.25 ($8.81)/cylinder for the first from its subsidized level of JD6.5 ($9.17)/cylinder. Product prices in Jordan are set periodically by a joint committee comprising members from the Ministry of Energy and Mineral Resources, Ministry of Finance, and the Jordan Petroleum Refinery Company (JPRC). According to an official of the Ministry of Energy and Mineral Resources, the reduced price of LPG now represents the actual cost to the government.

Meanwhile according to figures from the Department of Statistics, Jordan’s crude oil import bill in the period January to November 2008 stood at JD1,864mn ($2,628mn), an increase of 45.5% from JD1,281 ($1,806mn) in the same period of 2007.

Product Prices Effective 16 January 2009 (Fils/Liter, Unless Otherwise Stated)

Product                   

16 Jan

14 Dec

16 Nov

7 Nov

31 Oct

19 Oct

28 Sep

1 Sep

Unleaded Gasoline 90

350

350

370

435

475

545

615

660

Unleaded Gasoline 95

405

405

430

505

550

635

710

755

Diesel

335

355

430

460

490

565

650

690

Kerosene 

335

355

430

460

490

565

650

690

Fuel Oil Industry (JD/Ton)

200.91

193.03

239.12

294.02

333.74

396.82

468.93

495

Jet Fuel – Local Companies

319

349

427

454

484

548

633

705

Jet Fuel - Foreign  Companies

324

354

432

459

489

553

638

710

Jet Fuel- Charter Flights 

339

369

447

474

504

568

653

725

Fuel Oil - Bunkers (JD/Ton)

200.91

193.03

258.96

316.87

359.58

402.93

468.93

520.7

Diesel- Bunkers

553.21

626.39

704

746

781

822

650

725

Asphalt (JD/Ton)

218.18

209.83

258.63

316.68

358.78

425.65

502.08

556.9

LPG - 12.5kg (JD/Cylinder)

6.25

6.5

6.5

6.5

6.5

6.5

6.5

6.5

LPG – Bulk (JD/Ton)

500

545.75

728.03

815.58

851.49

861.87

875.57

919.31

JD1 = $1.41.

Source: Jordan’s Ministry of Energy and Mineral Resources.

Copyright MEES 2009.