Pertamina to raise LPG prices on July 6
Friday, July 5 2002 - 02:55 PM WIB
State oil and gas company Pertamina will on July 6 raise the price of liquefied petroleum gas (LPG) for households, industries and transportation, it said on Friday.
LPG for households and industries will be increased from Rp2,100 per kilogram to Rp2,400 per kilogram, while the new price of LPG for transportation will be Rp1,344 per liter, from Rp1,232 per liter. (US$=Rp8,860)
Pertamina said in a press statement the price increase aims to reduce losses in its LPG business which amounted to Rp900 billion in 2001.
The losses were due to low selling price on the domestic market, the company said.
Pertamina said it expects to cut losses to no less than Rp700 billion in 2002.
It said LPG prices will be further increased to economically reasonable levels. (godang/leo)