Fuel price hike likely before year end: Aburizal

Government is preparing to cut fuel price subsidies and raise fuel prices for the second time this year, senior economic minister said Thursday.

"The fuel price hikes should occur before January 2006," Coordinating Minister for the Economy, Aburizal Bakrie told reporters.

"The faster the (fuel price) subsidies are cut, the better it will be for the nation's economy."

Bakrie said that the fuel price hikes will occur gradually and will rise to meet international fuel price levels by the end of 2006.(*)