September gasoline price likely be reduced
Friday, August 30 2002 - 07:04 AM WIB
Government will likely reduce domestic retail gasoline price by 50 rupiah (US$=Rp.8,852) a liter next month due to the recent fall in the international price of the petroleum product, Mines and Energy Minister Purnomo Yusgiantoro said Friday.
State-owned oil and gas company Pertamina currently sells gasoline at Rp.1, 735 per liter.
Purnomo said prices of other petroleum products will also likely rise around IDR50 next month. He didn't elaborate.
Kerosene now costs Rp.1,290/liter, marine diesel Rp.1,300/liter and high speed diesel Rp.1,325/liter, while marine fuel oil Rp.1,090/liter.
In March, the government pegged domestic fuel prices to international prices in an effort to reduce the costly subsidies. However, the government still imposes a price ceiling on kerosene and gasoline.
Pertamina will likely announce fuel prices for September during the weekend. (*)