stdClass Object ( [id] => 7696 [paper_index] => EW201908-10-002893 [title] => THE IMPACT OF WORLD PRICE CHANGES OF OIL ON ECONOMIC GROWTH IN JORDAN [description] =>
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[author] => Dr. Iyad A. Al.Nsour [googlescholar] => https://scholar.google.co.in/citations?user=KeqZGcIAAAAJ&hl=en [doi] => [year] => 2019 [month] => October [volume] => 7 [issue] => 10 [file] => eprapub/EW201908-10-002893.pdf [abstract] =>

 The study aims to showing how changes in the world oil prices affect the economic growth in Jordan, as well as to measure how these changes are passing through on the last prices of oil products such as gasoline, diesel, and kerosene. To meet the research goals, a set of econometric models that using monthly, quarterly and annual data. The study found a set of essential results, most notably that the oil consumption as a percentage of GDP has grown during the period of the study by 30.2% as measured by imported oil value, also it found that the ordinary and emergency price changes have no effects on oil's share of the economy, while it found that the low prices have a critical effect on the economy. The results also clearly showed that the government passed through 125% of the increases in the world oil prices to both types of gasoline, while the prices of diesel (kerosene) depend on its price recorded in the last month only. The results also, show that the fair prices for each liter of the gasoline 90 and 95 are $0.5829 and $0.9903 respectively while reaching $0.2758 to the diesel (Kerosene). The price gap of the diesel reached 201%, while it reaches 82% and 40% for gasoline 90 and 95 respectively. Finally, the study presents a set of essential recommendations in the pricing of oil products, such as the sectoral pricing according to the end-user, and it is becoming very necessary of issuing the benchmark list prices by consumer protection association as well as the price lists of other commodities in the local market.

KEYWORDS: oil prices, economic growth, gasoline, diesel, oil consumption, oil products,

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