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INDONESIAN GOVT ANNOUNCES NEW FUEL OIL PRICES.

AsiaPulse News

| January 02, 2003 | COPYRIGHT 2003 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

JAKARTA, Jan 2 Asia Pulse - The Indonesian government yesterday announced new prices of fuel oils which will take effect from today.

"In 2003, the prices of fuel oils will be increased to 100 per cent of market prices. The new prices for January will be effective as of January 2," Minister of Energy and Mineral Resources Purnomo Yusgiantoro said.

He explained the government's new decision on the lowest and the highest levels of domestic fuel prices which will take effect in 2003.

Premium gasoline price has been raised to Rp1,810 (around 20.3 US cents) per liter from Rp1,750, automotive diesel oil Rp1,890 from Rp1,550 while industrial diesel oil from Rp1,510 to Rp1,810 a liter.

He said the government will use OPEC reference prices ranging from US$22 to US$28 a barrel to set the domestic fuel oil prices or fuel oil price hike in 2003.

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Source: HighBeam Research, INDONESIAN GOVT ANNOUNCES NEW FUEL OIL PRICES.

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