Jordanian royal decree regarding the prices of petroleum derivatives

Today, Wednesday, the Jordanian monarch, King Abdullah II, issued a royal decree approving an amended system for the pricing system for petroleum derivatives, the licensee’s commission, and his tariff for the year 2022, which was approved by the Council of Ministers on December 22, 2022.

Under the system jordanian What is new is that the Arab Gulf markets have been added to the Singapore and Mediterranean markets to import oil derivatives. To give marketing flexibility to importing companies in order to obtain the lowest prices, according to the global (Platts) bulletin, the main provider of energy information and oil derivatives prices, which used to depend only on the Singapore and Mediterranean markets before the system was amended.

Energy and oil derivatives expert Amer Al-Shobaki told that the Jordanian government was pricing oil derivatives locally, according to the “Platts” bulletin on the Singapore Stock Exchange price.

S&P Global Platts is the world’s leading data provider of energy information, and has been in the business for over a century.

Its main activity is industry news and pricing labels for the Oil, Natural Gas, Electricity, Nuclear Power, Coal, Petrochemical, and Metals markets.

Al-Shobaki added that the fuel-supplying companies in Jordan were importing from the nearby Gulf markets at a lower price, and the difference was in favor of the companies. As for this decision, the price of the international Gulf markets will be approved, and the difference, whether more or less, will go in favor of the citizen, which is a correct late step.

The Jordanian street has recently witnessed protests in a group of regions due to the increase in fuel prices 8 times in one year, while 4 months witnessed stabilization of prices.

And a large number of truck drivers and bus owners went on strike because of the high fuel prices and the stability of transportation fares.

When trying to arrest the killer of Al-Dalabeh, the criminal opened fire on members of the General Security and caused the death of 3 individuals, so that calm returned to the Jordanian street after days described as “hot”.

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