Experts: Managing petroleum prices despite treasury impact
The article focused on the efforts of the Jordanian government in managing the prices of petroleum derivatives during regional tensions that caused oil prices to rise above $120 per barrel. The government adopted a gradual policy in reflecting the increases on local prices, which helped minimize the impact of these hikes on citizens and economic sectors. Industrial gas was subsidized with an amount of 1.6 million dinars per month to ensure production competitiveness. Despite the global rise in oil prices, the government managed to maintain a certain level of stability in domestic prices through a balance between support and stabilization measures, aiming to protect purchasing power and reduce the financial burden on the treasury. The treasury absorbed price differences amounting to approximately 224 million dinars, with expectations to reach a quarter of a billion by the end of the month.
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