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FINANCIAL NEWS
Jordan hikes fuel derivatives prices
01 Feb 2013
(MENAFN) Jordan’s Minister of Trade and Industry, Hatem Halawani, stated that the government has increased the prices of fuel derivatives by between 1-4.5 percent, with the measure taking effect on February 1, reported Xinhua News.
Halawani said that the move comes as a result of the increase in global fuel prices.
The new hike raises the price of gasoline octane-90 by 2.5 percent, whereas the price of gasoline octane-95 increased by 2 percent, meanwhile, prices of kerosene and diesel went up by 3 percent, and the price of gas cylinder remained the same.
The Kingdom was hampered by repeated cuts in natural gas imports from Egypt, and has to buy more expensive heavy fuel for power generation.
It is worth noting that in 2012, Jordan put an end to subsidies on fuel derivatives, a move that erupted protests all over the country.
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