ID :
27136
Tue, 10/28/2008 - 19:50
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Shortlink :
http://m.oananews.org//node/27136
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GOVT STUDYING POSSIBILITY OF LOWERING DOMESTIC FUEL PRICES
Jakarta, Oct 28 (ANTARA) - President Susilo Bambang Yudhoyono said the government was studying the possibility of lowering domestic fuel prices following the decline in the world crude price.
Speaking to the press at his office here on Tuesday, the President said he had asked the related ministers to calculate the possible reduction in the domestic fuel prices.
"Following the decline in the world oil price, the fuel oil subsidy at home will also drop but the state's income from fuel oil sales will likewise decrease. That is the exercise that we are doing in relation with the rupiah's exchange rate, the fuel oil subsidy and other factors in order to arrive at a conclusion on possible new fuel oil prices," the president said.
According to the head of state, the calculation had been intensively made by Energy and Mineral Resources Minister Purnomo Yusgiantoro, Finance Minister Sri Mulyani, and other related ministers.
The president promised to make a decision on the new domestic fuel prices soon after the calculations had been completed.
"When things work out well, I will make a decision to change the fuel prices, because it is my moral responsibility to lessen the burden of my fellow countrymen," Yudhoyono said.
The world crude price at present stands at US$63 per barrel or much lower than US$140 per barrel in May 2008 when the Indonesian government raised domestic fuel oil prices.
Yudhoyono promised that if the world crude price rose again from US$60 per barrel, the domestic fuel prices would not exceed the present figures.
"We will make sure that if the world crude price rise again one day, domestic fuel prices will not be raised higher than the present figures because the present prices are the ceiling," Yudhoyono said.
But he could not say when the government would decide to lower the domestic fuel prices.
"Hopefully, we will decide in in the near future. But the exercise is being done so we don't have to be in a hurry. And I don't want to do it for political purposes because that would not be good," he said.
Speaking to the press at his office here on Tuesday, the President said he had asked the related ministers to calculate the possible reduction in the domestic fuel prices.
"Following the decline in the world oil price, the fuel oil subsidy at home will also drop but the state's income from fuel oil sales will likewise decrease. That is the exercise that we are doing in relation with the rupiah's exchange rate, the fuel oil subsidy and other factors in order to arrive at a conclusion on possible new fuel oil prices," the president said.
According to the head of state, the calculation had been intensively made by Energy and Mineral Resources Minister Purnomo Yusgiantoro, Finance Minister Sri Mulyani, and other related ministers.
The president promised to make a decision on the new domestic fuel prices soon after the calculations had been completed.
"When things work out well, I will make a decision to change the fuel prices, because it is my moral responsibility to lessen the burden of my fellow countrymen," Yudhoyono said.
The world crude price at present stands at US$63 per barrel or much lower than US$140 per barrel in May 2008 when the Indonesian government raised domestic fuel oil prices.
Yudhoyono promised that if the world crude price rose again from US$60 per barrel, the domestic fuel prices would not exceed the present figures.
"We will make sure that if the world crude price rise again one day, domestic fuel prices will not be raised higher than the present figures because the present prices are the ceiling," Yudhoyono said.
But he could not say when the government would decide to lower the domestic fuel prices.
"Hopefully, we will decide in in the near future. But the exercise is being done so we don't have to be in a hurry. And I don't want to do it for political purposes because that would not be good," he said.
