USD 64.4326

0

EUR 72.6993

0

BRENT 62.05

0

AI-92 42.15

+0.02

AI-95 45.61

+0.02

AI-98 50.67

+0.04

Diesel 46.31

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1815

Indonesia To Rise Fuel Prices by 21%

The Indonesian Energy and Mineral Resources ministry is proposing an average price hike of 21% in subsidized petroleum products starting June

The Indonesian Energy and Mineral Resources ministry is proposing an average price hike of 21% in subsidized petroleum products starting June.

A document seen by Dow Jones Newswires over the weekend recommended that the price of gasoline be raised 22% to IDR5,500 a liter from IDR4,500, high-speed diesel oil 16% to IDR5,000 from IDR4,300 and kerosene to IDR2,500 from 2,000.

The Minister of National Development Planning Paskah Suzetta said last week that price hikes of subsidized fuels won't exceed 30%.

Jakarta is facing mounting pressures to raise subsidized fuel prices to prevent rising global oil prices from breaking its budget.