PERTAMINA LOWERS PRICE OF INDUSTRIAL FUEL OIL

Jakarta, Nov 30 (ANTARA) - State oil and gas company PT Pertamina beginning on December 1, 2008 at 00:00 West Indonesia Standard Time (WIB) will lower the price of industrial fuel oil by 1.-9.4 percent of the price set on November 15, 2008.

Pertamina announced in Jakarta on Sunday that the price reduction followed the decline in the price of mean oil
platts of Singapore (MOPS), although the rupiah had been depreciating against the US dollar.

The decision to that effect was laid down in a regulation of Pertamina's Management No.Kpts-201/F00000/2008-S3 dated November 28, 2008.

Under the decision, the price of premium industrial fuel oil in region-4 covering the Medan Group Installation, Panjang Depot,
Tanjung Gerem Terminal Transit, Plumpang Depot, Tanjung Priok Installation, Cikampek Depot, Semarang/Pengapon Installation, and Surabaya Group Installation, had been set at Rp5,652 per liter.

Meanwhile, the price of other sorts of industrial fuel oil in the same locations and areas, had been set at Rp6,483 per liter of kerosene, Rp5,763 per liter of diesel oil, and Rp3,594 per liter of residual oil.

The price of industrial fuel oils do not include a value added tax of 10 percent and a motor vehicle fuel tax (PBBKB) of five percent.

If the value added tax and PBBKB are included, the price for premium would be Rp6,500 per liter, kerosene Rp7,131 per liter, automotive diesel oil Rp6,627 per liter, industrial diesel oil Rp6,097 per liter, and residual oil Rp3,644 per liter.***2***
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