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Home >> Business
UPDATED: 15:22, October 01, 2005
Indonesia says no more fuel hike this year
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The Indonesian government will not increase fuel prices until the end of the year after the average rise of 126 percent announced just after midnight Saturday, an official said here.

"There will be no more hike until the end of the year," said Minister of Energy and Mineral Resources Purnomo Yusgiantoro.

He said the current fuel prices in Indonesia, following the new hike, now are about 80 percent of the price in the international market.

"That's good enough," he said.

Purnomo added the domestic fuel prices may decline depending on global oil prices.

The government has just raised gasoline price to 4,500 rupiah ( 45 US cents) per liter from 2,400 rupiah (24 cents), diesel price to 4,300 rupiah (43 cents) from 2,100 rupiah (21 cents) and kerosene to 2,000 rupiah (20 cents) from 700 rupiah (7 cents).

The increase is the biggest in the country's history.

Source: Xinhua


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