AMMAN — The government on Wednesday decided to reduce fuel prices for January, including cutting the price of kerosene for the first time in two years, following the monthly meeting of the Fuel Pricing Committee.

Under the decision, which takes effect as of January 1, the price of kerosene will be lowered to 590 fils per litre, down from 620 fils, the Jordan News Agency, Petra, reported.

The committee reviewed global crude oil and petroleum product prices for December and compared them with November figures, which showed a decline in international prices of 90-octane and 95-octane gasoline and diesel.

After applying the pricing formula based on global prices, the committee found that the price of 90-octane gasoline declined by 20 fils per litre, 95-octane by 25 fils per litre, and diesel by 60 fils per litre.

The committee decided to reduce the price of 90-octane gasoline to 830 fils per litre, down from 850 fils, 95-octane gasoline to 1,055 fils per litre, down from 1,080 fils, and diesel to 645 fils per litre, compared with 705 fils in December.

The committee also decided to keep the price of a 12.5-kilogramme household gas cylinder unchanged at JD7.

Prices of oil derivatives in the local market are calculated based on international prices, in addition to other costs, such as shipping and taxes.

The committee assembles monthly over price modifications in accordance with international oil fluctuations.

Also on Wednesday, the Energy and Minerals Regulatory Commission decided to maintain the “differences in fuel prices” category on monthly electricity bills for January at zero fils per kilowatt-hour (kWh), Petra added.

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