Tuesday, 14 October 2008

Government to cut fuel prices

The state oil and gas company Pertamina announced to cut nonsubsidized fuel prices for industry by up to 13,2 per cent. Premium (gasoline) will be cut by 5,4 per cent, kerosene by 6,9 per cent, diesel by 5,9 per cent, diesel fuel by 6,5 per cent, diesel V10 by 7,8 per cent, and fuel oil by 13,2 % per cent. The new prices will be effective starting from Wednesday (1/10). Pertamina said the price cut was due to lower Mid Oil Platts Singapore by 5,4 per cent to 13,2 per cent and as the rupiah weakened by 2,1 per cent. Pertamina said it is adjusting fuel price twice every month based on the international oil price.

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