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INDONESIAN GOVT SAYS IT WILL NOT RAISE SUBSIDIZED FUEL PRICES.
JAKARTA, Nov 1 Asia Pulse - Energy and Mineral Resources Minister Purnomo Yusgiantoro has assured that the Indonesian government will not raise the prices of subsidized fuel oils despite a surge in global crude prices.
"So far, the government has not thought of raising the prices of subsidized fuel oil," Purnomo said after meeting President Susilo Bambang Yudhoyono at the presidential office.
Global crude prices are hovering above US$90 per barrel amid tensions between Turkey and oil producer Iraq as well as the US sanctions imposed on Iran, the world's fourth largest oil producer.
Yusgiantoro said the surging global crude prices would have no impact on Indonesia's oil and gas revenues this ...
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Source: HighBeam Research, INDONESIAN GOVT SAYS IT WILL NOT RAISE SUBSIDIZED FUEL PRICES.