Fahed Al Fayez, President of the Gas Stations Owners Association (GSOA), anticipated that fuel prices in are expected to drop by up to five percent in the Jordanian domestic market starting from Monday, reported Jordan Times.
Fayez based his expectations on the average price of Brent Crude Oil on the international market during November.
“Brent crude prices dropped in the first three weeks of November, but the largest drop was in the last week. We will see a drop but it will not be like last month, when prices of some derivatives went down by around 9.2%,” Fayez said, adding that “The drop will not be large as the prices of some ready-to-use types of fuel such as diesel and liquefied petroleum gas rose globally.”
Fayez told the Jordan Times that the “prices of oil derivatives are expected to drop by between 0-5%.”
It is worth highlighting that the government’s pricing committee will update the prices of oil derivatives on Sunday night.
Fayez based his expectations on the average price of Brent Crude Oil on the international market during November.
“Brent crude prices dropped in the first three weeks of November, but the largest drop was in the last week. We will see a drop but it will not be like last month, when prices of some derivatives went down by around 9.2%,” Fayez said, adding that “The drop will not be large as the prices of some ready-to-use types of fuel such as diesel and liquefied petroleum gas rose globally.”
Fayez told the Jordan Times that the “prices of oil derivatives are expected to drop by between 0-5%.”
It is worth highlighting that the government’s pricing committee will update the prices of oil derivatives on Sunday night.
Source:
Mubasher
