Khaberni - It is likely that Jordanians will welcome the new year with a decrease in fuel prices, primarily affecting diesel, reflecting a decline in its global prices and continued downward pressures in the energy markets, according to insiders and experts in the oil sector.
In this context, the oil expert Fahd Al-Fayez stated that some oil derivatives experienced a notable decrease recently, characterized by a decrease ranging from 15 to 20 fils on Octane 95 petrol, in addition to a reduction on diesel by no less than 4 to 5 piasters per liter, equivalent to 40 to 50 fils, according to Al-Ghad.
Al-Fayez considered this decrease unusual for this time of the year, especially in February, which usually sees an increase in demand for diesel for heating purposes. He explained that this drop is due, according to his reading of the market, to the repercussions of sanctions imposed on Russia, which allowed regional and international refineries to capture their share in the regional markets, leading to a relative abundance in the supply and a direct reflection in the price reduction.
Al-Fayez indicated that this decline might not last long, anticipating that oil derivative prices would gradually increase during the upcoming February and March to compensate for some of the current reductions, potentially amounting to about 50–60% of the recorded decline, amid ongoing fluctuations in global markets and geopolitical factors affecting the energy sector.
For his part, the economic researcher specializing in oil and energy affairs, Amer Al-Shoubaki, predicted that during the pricing of one of the months of the new year, the government would likely make a substantial reduction in diesel prices, reflecting a drop in global oil prices and continued downward pressures on energy markets.
Al-Shoubaki explained that preliminary indicators indicate an expected reduction in the price of diesel by about 4.5 piasters per liter, equivalent to 90 fils per tank, whereas a reduction in the price of Octane 95 petrol by about 5 fils per liter is expected, with the price of Octane 90 petrol remaining unchanged.
He clarified that the average global oil prices for 2025 are heading to register a decline of approximately 15% compared to the average of 2024, amid a slowdown in global economic growth, a decrease in industrial demand, and the continued abundance of supply, especially with the return of production capacities from "OPEC plus" countries that were out of the market last year.
He added that the weekly accumulations of reductions in the "Platts" newsletter for oil derivative prices in recent weeks have been a decisive factor in enhancing the prospects for reduction, especially for diesel, which has seen a clear decline in global pricing margins compared to the autumn period.
In turn, oil affairs expert Hashem Aql predicted a decrease in the prices of both types of petrol by about 20 fils per liter, with a rate ranging between 1.8% and 2%, while a decrease in the price of diesel was likely by about 55 fils per liter, equivalent to about 7.5%, with local price reductions being approximately similar.
Aql attributed this expected decrease to the decline in global oil prices, where the average oil prices for 2025 are heading to a level below $60 per barrel, due to the slowdown in global economic growth, a decrease in industrial demand, and the continued abundance of the oil supply, alongside weak European demand and the stability of supply chains, despite some pressing geopolitical factors.
It is worth mentioning that the government had raised the prices of both types of petrol by 5 fils per liter, and the price of diesel by two piasters per liter earlier in December, while fixed the price of kerosene at 620 fils per liter, and maintained the price of domestic gas cylinders (12.5 kg) at 7 dinars.
According to data from the Ministry of Energy and Mineral Resources, global oil derivative prices declined during the second week of the current month compared to the first week, where the price of Octane 95 petrol decreased by 1.9%, Octane 90 by 1.8%, diesel by 2.8%, and kerosene by 3%.
