Fuel prices increased to the limit<\/p>\n
The Jakarta Post, Jakarta<\/p>\n
State-owned oil and gas company Pertamina set fuel prices for
\nNovember at the maximum allowable price, which the government
\nexplained was due to soaring oil prices on the world market as
\nwar talks in the Middle East persist.<\/p>\n
Compared to the previous month, the price of automotive diesel
\nrose to Rp 1,550 per liter from Rp 1,440, and industrial diesel
\nto Rp 1,520 per liter from Rp 1,420.<\/p>\n
Premium gasoline and bunker oil remain unchanged at their
\nhighest range of Rp 1,750 and Rp 1,150 per liter respectively.<\/p>\n
Pertamina gave no explanation for the increase, but Minister
\nof Energy and Mineral Resources Purnomo Yusgiantoro told
\nreporters earlier that oil prices had jumped to US$28 a barrel --
\nthe upper end of the trading band set by the Organization of
\nPetroleum Exporting Countries (OPEC).<\/p>\n
Talks over a possible U.S. attack against Iraq is stoking oil
\nprices on fear that war in the vicinity of the world's largest
\noil producers could disrupt world oil supplies.<\/p>\n
The government introduced monthly price adjustments last
\nJanuary, replacing the political risky move of announcing gradual
\nprice hikes as required under the International Monetary Fund
\n(IMF) reforms program.<\/p>\n
Fuel prices now track the movement of world oil prices, and
\nare set by Pertamina each month based on the previous month's
\nprice average and estimation on future movement.<\/p>\n
Car owners pay 75 percent of the market price for fuel, except
\nfor premium gasoline, which Pertamina quotes at 100 percent of
\nits market price.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/fuel-prices-increased-to-the-limit-1447893297",
"image": ""
},
"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
}