AMMAN � Despite the ongoing war in Gaza and the crisis in the Bab Al Mandeb Strait, experts suggest that fuel prices might decrease next month.�

�The price of 90-octane gasoline has decreased by 2.4 per cent, equivalent to 22 fils. The price of 95-octane gasoline has decreased by 1.8 per cent, equivalent to 20 fils. Diesel has decreased by 3 per cent, equivalent to 22 fils. These numbers might decrease even more next month due to the geopolitical events happening globally,� said Hisham Aqel, an energy expert who spoke to The Jordan Times.�

It is worth noting that a decision is still pending from the pricing committee at the Ministry of Energy and Mineral Resources, according to Aqel.�

Aqel added that in the next ten days, there may be changes in prices, particularly with the worsening crisis in the Bab Al Mandeb Strait, which could have a slight impact on oil prices. However, he emphasised that on a local level, there would be no significant effect as the supply lines are close to Saudi Arabia and Iraq.�

�American production of petroleum derivatives has increased significantly,� noted Aqel.�

In addition, Aqel highlighted that OPEC�s members do not fully support the decision to decrease production, which will also influences production and, therefore, the prices of petroleum derivatives.�

Meanwhile, Amer Shobaki, another energy expert, told The Jordan Times that he anticipates a decrease in petroleum prices for the next month in Jordan.�

�Despite the war in Gaza and the conflict in the Bab Al Mandeb Strait, petroleum derivatives are expected to decrease even more next month,� added Shobaki.�

He mentioned that the USA, Mexico, and Guana have all increased their petroleum production. Additionally, OPEC�s decision to lower production is currently optional for OPEC�s members, whereas it was mandatory initially.�

All these factors have contributed to �slow down� the impact of both conflicts in Gaza and Yemen.�

�One barrel of Brent is sold for almost $78, which will be reflected in reduced prices in the Jordanian market,� Shobaki added.�

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