Pertamina to raise LPG price Saturday
Friday, December 13 2002 - 10:20 AM WIB
State oil and gas firm Pertamina will raise on Saturday midnight (Dec. 14) the price of its liquefied petroleum gas (LPG) for household and industrial consumers to Rp2,700 (US$=Rp8,800) per kilogram, from the current Rp2,400 per kilogram, the company said on Friday.
This means that LPG in 12-kilo tubes, which are widely sold in Jakarta and many other cities, will be priced at Rp32,400, from the current Rp28,800, Pertamina said in a statement.
Pertamina said the new price was still below the economic price level.
The company said it had suffered losses of Rp900 billion in 2001 because it had sold LPG at too low price. This year, its losses were estimated at Rp700 billion.
The company said earlier it had planned to gradually raise the price of LPG so it will reach the economic price level of Rp3,100 per kilo.
Pertamina currently sells one million metric tons of LPG annually. (godang)