New prices of subsidized fuels issued

President Susilo Bambang Yudhoyono has issued a regulation on the new retail prices and consumers of certain types of subsidized petroleum-based fuels.

The Presidential Regulation No.12/2012, dated February 7, stipulates that the retail price of kerosene, gasoline and diesel oil is set at Rp 2,500, Rp 4,500 and Rp 4,500 per liter, respectively. Previously, the price of those fuels was set at Rp 2,000, Rp 4,500 and Rp 4,300 per liter.

The regulation also states that the prices can be adjusted by taking into account national energy policy and the government?s finance. The price adjustment, be it upward or downward, will be determined by the Minister of Energy and Mineral Resources based on a Cabinet Meeting decision.

The regulation also sets out the gradual limitation on the use of these fuels. The detailed limitation stages will later be determined by the Minister of Energy and Mineral Resources based on a coordination meeting presided over by the Coordinating Minister for the Economy.

Editing by Dadan Wijaksana