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Jordan raises fuel prices again

Filed on July 10, 2008

AMMAN - Jordan, reliant on imports for its energy needs, increased fuel prices on Thursday between four and 10 percent, the sixth such rise since the start of this year, amid soaring international prices.

A government statement said petrol prices had gone up by four percent, while domestic fuel and kerosene increased by 9.9 percent, totalling rises of 10 percent, 36 percent and 89 percent respectively since February when Amman ended its policy of subsidies.

The desert kingdom, which imports 95 percent of its energy needs, used to be fully dependent on neighbouring Iraq for fuel which was supplied by Baghdad at a preferential price.

But since the US-led invasion of 2003, Amman has had to buy its supplies at the market rate.

World oil prices have soared since breaking through 100 dollars at the start of the year, but are down about 10 dollars from record peaks of near 147 dollars last week.

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