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INDONESIA'S FUEL OIL 28.7 PCT PRICE HIKE TOO HIGH: OBSERVER.
JAKARTA, May 1 Asia Pulse - An average increase of 28.7 per cent in fuel oil prices is too high and could cause panic among the people, economic observer Tony A Prasetyantono said here on Wednesday.
He said he agreed with the government's intention to increase fuel oil prices based on its need to reduce its fuel oil subsidy but before doing it the government should also take into account the people's objective and psychological conditions.
"I think, psychologically, a logical increase should not exceed Rp1,000 (US$0.108) per liter because it would be objectively acceptable to the people," he said.
So, he said, the increase should not merely be based on mathematical assumptions but also on considerations of the people's ...
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