Minister says govt can't intervene in determining price of "Premix" and "Super TT"
Tuesday, April 11 2000 - 04:00 AM WIB
Minister of Mines and Energy Susilo Bambang Yudhoyono said on Monday that the government could not intervene in the determination of the price of "Premix" and "Super TT" premium gasoline because the two were special fuel products whose price determination was not made through presidential decree as in the case with the other type fuel products including kerosene, gasoline, and diesel.
He said that the price determination for Premix and Super TT was solely made by the state oil and gas firm company Pertamina.
Susilo was responding to earlier press reports criticizing that the government was not transparent in raising the prices of Premix and Super TT.
The price of Premix increased on Saturday to Rp 1,500 per liter from Rp 1,300 per liter, and the price of Super TT to Rp 1,600 per litter from Rp 1,400 per liter.
Meanwhile, Pertamina president Baihaki Hakim said that the price increase of the two commodities was relatively small compared to the increase in the international price of oil and the weak exchange rate of the rupiah against the U.S. dollar.
He said that the 15 percent increase in the Premix and Super TT prices still caused a loss to Pertamina. (*)