Pertamina cuts fuel prices for industry

State-owned oil and gas firm PT Pertamina said that effective Nov. 1 (today) gasoline is sold at Rp 4,778 (52 cents) per liter, down 11.4 percent from Rp 5,393 per liter in October.

Pertamina announced fuel prices cut for industrial users in Jakarta on Tuesday following the declining trend of the fuels price at international market.

Pertamina's spokesman M. Harun said that the company would also cut the price of diesel used for transportation to Rp 5,481 per liter and for manufacturing to Rp 5,243 per liter, 8.2 percent less than this month. Kerosene will be lowered at Rp 5,550 per liter, from Rp 6,039 this month.

The state company will sell fuel oil at Rp 3,123 per liter, 4 percent lower than the price this month. Marine diesel will cost Rp 5,031 per liter in November, 13.2 percent less than this month.

Pertamina uses Mid Oil Platts Singapore (MOPS) as benchmark to determine fuel prices every month. (godang)