Pertamina raises LPG price
Monday, March 15 2004 - 01:21 AM WIB
State oil and gas company Pertamina announced on Sunday an increase in the price of liquefied petroleum gas (LPG) by 5.3 percent, or Rp 150 per kilogram, to cover rising production costs amid higher international crude prices.
The company also intends to raise the price again later this year in order to break even.
The new price of Rp 3,000 (35 U.S. cents) per kilogram, effective as of Monday, will therefore increase the price of the widely used 12-kilogram LPG tanks from Rp 34,200 (US$4.02) to Rp 36,000 per tank.
Pertamina deputy director for marketing and trade Rahmat Drajat refused to say when the next hike would occur and merely explained that Pertamina had decided to phase the hikes to reduce the economic, social and possible political impacts, particularly during the election year. (Godang)