Pertamina raises prices of lubricant oil

State owned oil and gas company Pertamina has raised the prices of its lubricant oils by about 10 percent to cope with an increase in the production cost, the company's general manager for lubricant production, Djaelani Sutomo said on Tuesday.

"The new prices has begun to take affect on Sept. 12. We had not no choices but to increase the prices," he said, adding that the rise in the prices would not affect the demand for Pertamina's lubricant oils.

He said Pertamina had set a target of sell about 350,000 kiloliters of lubricant oil in the domestic market this year. "The sales have so far reached about 60 percent to 70 percent of the target," he added.(dino)