Fuel prices for industrial users up again

State owned oil and gas company PT Pertamina increased the prices of most types of oil-based fuels sold to industry by as much as 4 percent to reflect a rise in international market prices. The Jakarta Post reported on Saturday.

The company increased the price of research-octane number 88 gasoline by 4 percent to Rp 5,098 (56 U.S. cents) a liter, and the prices of automotive diesel, industrial diesel and marine diesel by 1.7 percent to Rp 5,362 a liter, Rp 5,129 a liter and Rp 4,983 per liter, respectively.

It also increased the price of fuel oil for industrial use by 1.9 percent to Rp 3,673 a liter. However, the company reduced the price of kerosene by 4.2 percent to 5,507 rupiah a liter. The new rates take effect on April 1.

Pertamina used fuel prices in Singapore, assessed by oil-pricing service Platts, between Feb. 16 and March 15 as the benchmark for determining the prices for industrial users, Djaelani Sutomo, the company?s fuel division head, said Friday.

The government removed the subsidies on fuel used by industry in July last year to reduce the burden on the budget as global crude prices soared. Retail prices for individual buyers are still subsidized and controlled by the government. (*)