Fuel prices for June might not change

Fuel prices for June might not change

JAKARTA: The government said on Monday that fuel prices for
June might be similar to those in May despite the recent
appreciation of the rupiah.

Director general for oil and gas Rachmat Sudibyo said June
fuel prices were determined based upon the observation of several
factors, including crude oil prices and the rupiah's value
against the American dollar between April 15 and May 15, which
were all relatively constant.

"It (June fuel prices) is probably the same as this month's
prices. Crude oil prices were stable, while the rupiah
strengthened as of May 15," he told a press conference.

The rupiah has been increasing since last month on the revival
of investors' confidence in the country's economic programs. The
unit closed at Rp 8,880 Monday compared to Friday's closing of Rp
8,950.

In May, the price of premium gasoline stood at Rp 1,750 (19.4
U.S. cents) per liter, automotive diesel oil at Rp 1,400,
industrial diesel oil Rp 1,390, kerosene for industry Rp 1,410
and fuel oil Rp 1,120.

Starting in March this year, the government sets fuel prices
every month based on the Mid Oil Platts Singapore price index.
-JP