Jordan hikes gasoline, power prices to ease budget deficit




 
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Jordan hikes gasoline, power prices to ease budget deficit
 
May 27th, 2012  
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Topic: Jordan hikes gasoline, power prices to ease budget deficit


Jordan hikes gasoline, power prices to ease budget deficit
AMMAN (Reuters) - Jordan has raised the price of gasoline and electricity for major mining firms, hotels and banks, to ease its worsening budget deficit that could reach $4 billion this year, officials said on Saturday. The move, announced by the cabinet, which takes effect after midnight is the first major rise in retail gasoline prices since street protests early last year inspired by the wave of Arab unrest pushed the authorities to expand social spending and freeze fuel price hikes, including gasoline. The prices of premium petrol would increase to 1 dinar ($1.4) from 0. ...

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