Relative Stability Expected in Fuel Prices Amid Global Oil Price Hike
Amman2 min read
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Economic expert Hashem Aqel predicted, in a statement to the program 'Pulse of Opinion' on 'Alrai' radio, that oil derivatives prices will maintain relative stability over the next month, with a possible limited increase of no more than five percent, amid the ongoing global rise in oil prices.
Aqel explained that the government follows a gradual policy in pricing oil derivatives through the Pricing Committee, which relies on the average global prices for thirty days, thereby limiting the direct impact of global changes on local prices.
He pointed out that the government has borne a significant portion of the price increases over the past period, noting that fuel price support allocations reached about 224 million dinars by the end of August, and are expected to reach about 260 million dinars by the end of this month.
He noted that the continued rise in global oil prices puts pressure on public finances, while the gradual pricing policy and the government bearing part of the cost help limit the impact of these increases on purchasing power and inflation levels.
Aqel explained that the transport sector will be the most affected by any change in fuel prices, due to their impact on the costs of transporting goods and the prices of a number of goods and services, emphasizing the importance of diesel in the transport sector and various economic sectors.
