Govt cuts subsidized gasoline, diesel prices
Sunday, December 14 2008 - 03:29 PM WIB
Government on Sunday announced that prices of subsidized gasoline and diesel would be lowered effective Monday.
President Susilo Bambang Yudhoyono announced that the price of Premium gasoline has been cut again by Rp 500 to Rp 5,000 (45 US cents) per liter, and the price of diesel fuel has been cut by Rp 700 to Rp 4,800 per liter.
The decision to cut fuel prices was taken after a limited Cabinet meeting chaired by the President and attended by Vice President Jusuf Kalla and economic ministers.
Finance Minister Sri Mulyani said the decision to cut fuel prices took into consideration the falling price of crude oil on the international market.
Price of heavily subsidized kerosene remained unchanged at Rp.2,500 per liter. (godang)