Fuel prices for industry down

Fuel prices for industry down

JAKARTA: State oil and gas firm PT Pertamina cut prices of kerosene, automotive diesel, gasoline, marine diesel and fuel oil sold to mining companies, exporters and oil companies by as much as 14.4 percent to reflect market prices.

Pertamina cut the price of kerosene by 14.4 percent to Rp 5,550 rupiah (55 U.S. cents) a liter, spokesman Mohammad Harun said in an e-mailed statement. It reduced the price of automotive diesel by 13.5 percent to Rp 5,340 a liter, and the price of leaded premium gasoline by 12.6 percent to Rp 5,150 a liter.

"We cut the prices of fuel by an average 13 percent to follow the drop in Singapore prices," Harun said. Singapore is Asia's biggest oil-trading center. The prices take effect at midnight.

Mining companies and cement makers will have to pay Rp 5,180 a liter for marine diesel, 12.8 percent less than last month, Harun said. The price of fuel oil will be cut 4.9 percent to Rp 3,680 a liter.

The new prices apply to oil and gas producers, mining companies, cement and steel makers, and businesses that consume more than 500 kiloliters of fuel a month. Those that are based in areas where exporters receive tax breaks, refining plants and large fishing vessels are also affected, the company said. -- Bloomberg