Purnomo says Pertamina may cut fuel prices for August

Minister of Energy and Mineral Resources Purnomo Yusgiantoro said on Monday fuel prices for August will likely be cut from the current price levels due to the downward trend of international oil prices.

Purnomo said however a special team of state oil and gas firm Pertamina which studies fuel price cut plans had not yet submitted formal reports to him about its plans of August prices. But he said he had got reports from other parties which indicated possible fuel price reduction.

?So we could hope that fuel prices will be cut on August 1,? the minister told reporters after opening on an energy conference and exhibition in Yogyakarta.

Pertamina reviews fuel prices monthly and decides to either maintain or change existing prices in accordance with world price indicators issued under Mid Oil Platts Singapore (MPOS) and the fluctuation of rupiah against the U.S. dollar.

Premium gasoline for July sells for Rp 1,750 per liter, kerosene Rp 1,320 per liter, diesel oil Rp 1,350 per liter and bunker fuel Rp 1,110 per liter. (godang)