Fuel prices lowered by 7.6% on average

The Jakarta Post, Jakarta

State oil and gas company Pertamina said it would lower fuel prices for industry in December by an average of 7.8 percent, a statement said.

Premium gasoline will be sold at Rp 1,450 (13.8 U.S. cents) per liter, while kerosene will remain at Rp 895, the state company said in a statement over the weekend.

The price for automotive diesel is set at Rp 900, while industrial diesel will be sold at Rp 865 per liter and the price for fuel oil stands at Rp 635.

Pertamina changes its selling price for fuel on the domestic market every month depending on the international price. Under existing regulations, the selling price is capped at 50 percent of international prices.

Foreign oil and gas, mining and shipping companies have to buy fuel at international prices.