Indonesia: Fuel Prices up by 28.7 Percent
Today the Indonesian Government raised subsidized fuel prices by an average of 28.7%.
The price for premium gasoline was increased from IDR 4.500 to IDR 6.000 (up 33.3%), diesel rose from IDR 4.300 to IDR 5.500 (up 27.9%) and kerosene prices climbed from IDR 2.000 to IDR 2.500 (up 25%) per liter.
After the skyrocketing oil price reached levels above USD 135 per barrel the Indonesian Government had to adjust the fuel prices Energy and Mineral Resources Minister Purnomo Yusgiantoro announced in a press conference today. In Indonesia the last fuel price increase took place in October 2005 after the oil prices broke the psychological barrier of USD 60.-/barrel for the first time in history in June 2005.
The chairman of the Central Statistics Agency, Dr. Rusman Heriawan expects that inflation rate for May 2008 will now rise above the level of 10%.
[…] gasoline price hike was the steepest in percentage terms among Asian countries . On May 23rd, Indonesia raised fuel prices by an average of […]
Pingback by asia-invest.info » Malaysia: Fuel Prices Up - Inflation Rate Might Rise to 5 Percent — June 5, 2008 @ 6:50 am