Pertamina to raise prices of high-grade gasoline<\/p>\n
Bloomberg, Jakarta<\/p>\n
State-owned oil and gas company PT Pertamina plans to increase
\nthe price of high-grade gasoline later this year because of
\nhigher import prices, a company official said on Friday.<\/p>\n
Pertamina will probably increase the price of Pertamax and
\nPertamax Plus to at least Rp 5,000 (53 U.S. cents) a liter, Adi
\nSoemarno, director for marketing and trading at Jakarta-based
\nPertamina, told reporters.<\/p>\n
Pertamax and Pertamax Plus are currently sold at Rp 4,000 and
\nRp 4,200 liter, respectively.<\/p>\n
Import prices for the high-grade gasoline are about $65 a
\nbarrel, Soemarno said. Pertamina last raised prices of the fuel
\non Dec. 18 by as much as 60 percent.<\/p>\n
Indonesia raised the prices of fuel, including premium
\ngasoline and auto diesel, by an average of 29 percent last month,
\nin a bid to cut subsidies and narrow a budget deficit to 0.8
\npercent of gross domestic product, from 1.4 percent last year.<\/p>\n
Pertamax and Pertamax Plus are not subsidized.<\/p>\n
Prices of crude oil futures have risen 45 percent in the past
\n12 months to $54 a barrel, according to data compiled by
\nBloomberg.<\/p>\n
Crude oil for May delivery fell as much as 39 U.S. cents, or
\n0.7 percent, to $53.72 a barrel in after hours electronic trading
\non the New York Mercantile Exchange.<\/p>",
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"sponsor": "Okusi Associates",
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