Pertamina slashes fuel prices

State-owned oil and gas company Pertamina has lowered prices of non-subsidized fuels Pertamax and Pertamax Plus by between 3.6 percent and 7.36 percent to Rp 4,850 per liter and to Rp 5,250 per liter respectively from the previous Rp 5,250 per litter and Rp 5,450 per liter.

Pertamina's decision to cut the prices of the high-octane fuels was made following the fall in the prices of similar fuel products sold by Shell early this week.

Hanung Budya, the deputy director of Pertamina's marketing division, said Thursday that the new prices would take effect at midnight Friday in all gasoline stations in Jakarta greater areas including Bogor, Tangerang and Bekasi.

"With the price fall, the price of Pertamax is Rp 100 lower than that of the same product sold by Shell," he said.

Pertamina said that it would also plan to cut the price of its Pertmina Dex diesel oil to Rp 5,450 per liter from the current Rp 5,900 per liter .

Pertamina head of fuel division Djaelani Sutomo said the the company's move to lower prices of Pertamax and Pertamax Plus was taken following the declining trend of fuel prices at the international market. (godang)