ID :
28963
Fri, 11/07/2008 - 18:30
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http://m.oananews.org//node/28963
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GOVT TO MAKE MONTHLY ADJUSTMENTS TO FUEL OIL PRICES
Jakarta, Nov 7 (ANTARA) - The government will make adjustments to premium gasoline price each month following its policy on Thursday to lower the price of the fuel oil from Rp6,000 per liter to Rp5,500 per liter effective as of December 1, 2008, a minister said.
Minister for Energy and Mineral Resources Purnomo Yusgiantoro said that the price adjustment would be made each month in line with the developments of the world crude prices.
"There will be adjustment and price announcement each month. Evaluation will be made based on the Indonesian Crude Price (ICP)," the minister said.
He said that the reduction by Rp500 per liter was arrived at after taking into account the tax cut of subsidized premium gasoline.
With the price reduction, he said, the government has to provide Rp750 billion subsidy in December 2008 with a sale projection of 1.5 million kiloliters.
In the meantime, Finance Minister Sri Mulyani said that price changes of fuel oil would be consulted with the House of Representatives (DPR) each month in order to maintain market confidence on the ability of the state budget.
Mulyani said that fuel oil subsidy for 2009 would be calculated based on the ICP price at US$80 per barrel.
"At present range of crude price in the world market at US$65 per barrel, the government has enough ability to manage the 2009 state budget," she said.
Minister for Energy and Mineral Resources Purnomo Yusgiantoro said that the price adjustment would be made each month in line with the developments of the world crude prices.
"There will be adjustment and price announcement each month. Evaluation will be made based on the Indonesian Crude Price (ICP)," the minister said.
He said that the reduction by Rp500 per liter was arrived at after taking into account the tax cut of subsidized premium gasoline.
With the price reduction, he said, the government has to provide Rp750 billion subsidy in December 2008 with a sale projection of 1.5 million kiloliters.
In the meantime, Finance Minister Sri Mulyani said that price changes of fuel oil would be consulted with the House of Representatives (DPR) each month in order to maintain market confidence on the ability of the state budget.
Mulyani said that fuel oil subsidy for 2009 would be calculated based on the ICP price at US$80 per barrel.
"At present range of crude price in the world market at US$65 per barrel, the government has enough ability to manage the 2009 state budget," she said.
