Fuel prices very unlikely to be raised on May 1
Tuesday, April 30 2002 - 04:07 PM WIB
TA Nurwinakun from the Ministry of Energy and Mineral Resources said however fuel prices will be raised during the first week of May.
Nurwinakun said President Megawati Sukarnoputri is expected to sign a new decree within a couple of days which obliges Pertamina to increase fuel prices during the first week of the month, and not necessarily on the first day of the month as mentioned by existing presidential decree.
Meanwhile, Pertamina?s downstream director Muchsin Bahar said on Tuesday fuel prices for May will significantly go up following the big increase in oil prices on the world market.
Pertamina increased fuel prices for April between 3.2 percent and 11 percent.
The price for premium fuel for April is Rp 1,600 per liter (US$=Rp9310) compared with Rp 1,550 for March; diesel fuel for transportation is Rp1,250 from Rp 1,150; and diesel fuel for machinery is Rp 1,240 from Rp 1,120.
The price of diesel fuel for mining, oil and gas companies was raised by 11 percent to Rp1,670 from Rp 1,500.
Meanwhile, the price of kerosene for low-income households remains Rp600 per liter.
The government decided in February to float fuel prices in the domestic market in line with international oil prices to reduce subsidy costs in the sate budget. (*)