blog.indahnesia.com - Discover Indonesia Online

    
You are currently in > Just a blog about Indonesia > Domestic oil prices hike today


Domestic oil prices hike today JAKARTA - In an attempt to raise revenue and help overcome the country ride over the economic crisis, the Indonesian government raised fuel prices again starting Thursday. The price hike of up to 22 percent, was announced by Muchsin Bahar, the Downstream Director of State-owned oil and gas company, Pertamina.
The announcement was met with strong protests from the public and consumer bodies in the country which had to bear an average six percent increase in electricity tariffs and an average of 15 percent rise in telephone rates.
The price premium of gasoline was set up at Rp1,810 (EUR 0,194) per litre from Rp1,750 (EUR 0,187), while automotive diesel jumped to Rp1,890 (EUR 0,202) from Rp1,550 (EUR 0,166). In order not to impose a heavy burden on the poor, the government decided on a small increase in the price of kerosene to Rp700 (EUR 0,075) from Rp600 (EUR 0,064).
The government raised the fuel ceiling prices or the maximum price limit that the government could increase to in a year which essentially means that prices set each month, could continue to climb, depending on international oil prices. Last year, the government, in a bid to reduce costly subsidies provided to all but a few sectors, scrapped the policy which set the domestic price of fuel products at 75 percent of market price in Singapore.
The government was forced to cut the subsidy due to the nation's massive debts after being hard hit by the regional financial crisis in mid-1997. There was widespread complaints that the heavy subsidy was being exploited by fuel smugglers. The Indonesian Consumer Foundation (YLKI-Yayasan Lembaga Konsumen Indonesia), which said that the increase would burden further the people who were already suffering, called for a nation-wide protest.
Chief Economic Minister, Dorodjatun Kuntjoro-Djakti, who considered the increase as minor, said the government had taken various factors into consideration before deciding the new fuel prices. He said the hike along with the increase in electricity and telephone tariffs was to stimulate growth which in the end would benefit the people.
The increase in electricity charges was also in line with the subsidy-cut strategy, he said. "We have to reduce the subsidy on these sectors and other segments of the economy, to ensure that our budget have a bigger breathing space in allocation for development," he said.



Posted in General @ 02 January 2003 00:01 CET by Jeroen · 'Blog' RSS feed · permalink






There are no reactions on this blog entry yet. Be the first one to give a reaction here!


Log in to write a reaction

You are not logged in to the website. You have to be logged in to write a reaction on this blog entry.

· If you already have an account, please login.
· If you have lost your password, please retrieve it.
· If you don't have an account yet, you can create one.

    
 ABOUT THIS ENTRY
Add this blog entry to your email, your own blog, MySpace, Facebook, or whatsoever via AddThis:
Bookmark and Share

e-mail updates for this blog article

Login if you want to receive emails for reactions on this blog entry. You will receive an update as soon as a reaction on this blog entry is posted.

Your website for tickets in Indonesia!
Looking for e-tickets for flights in Indonesia? Here's your solution! Order your e-tickets at ticketindonesia.info.
 FOLLOW US ON TWITTER
 BLOG ARCHIVE
· 2015, 28 entries
· 2014, 591 entries
· 2013, 750 entries
· 2012, 1061 entries
· 2011, 792 entries
· 2010, 644 entries
· 2009, 916 entries
· 2008, 504 entries
· 2007, 725 entries
· 2006, 1014 entries
· 2005, 723 entries
· 2004, 558 entries
· 2003, 525 entries
· 2002, 375 entries
· 2001, 162 entries
 POPULAR TAGS
· gigolo
· jakarta
· blogger
Automatically generated every hour
 BLOG CATEGORIES
· General (1205 entries)
· Economy (643 entries)
· Politics (574 entries)
· Accidents (561 entries)
· Terrorism (541 entries)
· Earthquake (539 entries)
· Volcanoes (387 entries)
· Crime (357 entries)
· Corruption (349 entries)
· Flooding (278 entries)
· Elections (276 entries)
· Travel (268 entries)
· Bird Flu (254 entries)
· Religion (242 entries)
· Tourism (239 entries)
· Oddly enough ... (219 entries)
· Violence (198 entries)
· Drugs (196 entries)
· Health (192 entries)
· Aceh conflict (191 entries)
· Environment (185 entries)
· Weather (171 entries)
· Military (168 entries)
· Protests (157 entries)
· Culture (106 entries)
· Garuda Indonesia (91 entries)
· C. Sulawesi conflict (86 entries)
· Human rights (82 entries)
· Forest fires (78 entries)
· Sidoarjo mudflow (71 entries)
· Power supply (64 entries)
· Ramadan (63 entries)
· PT Freeport (55 entries)
· Picture guess (48 entries)
· Maluku conflict (47 entries)
· Dengue Fever (37 entries)
· History (37 entries)
· Infrastructure (36 entries)
· Polio (35 entries)
· Mexican flu (35 entries)
· Website (25 entries)
· Media (22 entries)
· Nuclear power (21 entries)
· Sports (20 entries)
· Sexy (16 entries)
· SARS (15 entries)
· Nightlife (10 entries)
· Others (5 entries)
· Lippo Cikarang (5 entries)
· Close smallest categories
 EXCHANGE RATES
EUR-IDR: 16,590 · 16,620  The Rupiah rate declined since yesterday
@ 17 May 2018 18:12 CET
JPY-IDR: 126.83 · 126.95  The Rupiah rate improved since yesterday
@ 17 May 2018 21:58 CET
MYR-IDR: 3,545 · 3,549  The Rupiah rate declined since yesterday
@ 15 May 2018 08:42 CET
SGD-IDR: 10,479 · 10,501  The Rupiah rate declined since yesterday
@ 07 May 2018 07:48 CET
THB-IDR: 439.14 · 439.41  The Rupiah rate declined since yesterday
@ 16 May 2018 09:18 CET
USD-IDR: 14,097 · 14,157  The Rupiah rate declined since yesterday
@ 17 May 2018 00:46 CET
Go to 'exchange rates' 
 MOST RECENT REACTIONS
·  At 20 September 2018 06:54 erik12 reacted on Fuel prices lowered, again
·  At 19 October 2015 17:17 imambudianto5 reacted on Bank Indonesia maintains benchmark interest rate at 7.75%
·  At 04 March 2015 19:18 merdekaSah reacted on Alleged terrorists shot dead three villagers in Poso
·  At 04 March 2015 13:11 Yogya-Bali reacted on Alleged terrorists shot dead three villagers in Poso
·  At 26 February 2015 13:02 Irena reacted on Sexy, a young woman with candy
·  At 08 May 2014 09:51 jstar reacted on No alcohol should be sold in warung
·  At 01 May 2014 10:07 jstar reacted on Indonesia to be among the top 10 peacekeeping contributors
·  At 27 March 2014 05:50 harlys reacted on PPP leader voices concern over Islamic parties' future
·  At 10 March 2014 06:11 Yogya-Bali reacted on Sriwijaya Air leaves behind 200 passengers at airport
·  At 09 March 2014 00:11 Yerun reacted on Sriwijaya Air leaves behind 200 passengers at airport
·  At 08 March 2014 20:33 nicknick reacted on Sriwijaya Air leaves behind 200 passengers at airport
·  At 18 February 2014 04:17 Yerun reacted on Ash from Mount Kelud eruption spreads over all of Java
·  At 16 February 2014 05:41 Amed East Bali reacted on Ash from Mount Kelud eruption spreads over all of Java
·  At 14 February 2014 22:27 Anne Mieke reacted on Asylum seekers in Medan wish to be sent to Australia
·  At 14 February 2014 22:22 beritaislam reacted on Asylum seekers in Medan wish to be sent to Australia
·  At 16 January 2014 15:37 Anne Mieke reacted on Landslides cut off Tomohon-Manado road
·  At 16 January 2014 15:21 Yerun reacted on Landslides cut off Tomohon-Manado road
·  At 16 January 2014 15:05 Anne Mieke reacted on Landslides cut off Tomohon-Manado road
·  At 16 January 2014 14:48 Yerun reacted on Landslides cut off Tomohon-Manado road
·  At 16 January 2014 14:41 Yerun reacted on Landslides cut off Tomohon-Manado road
Go to 'forum topics' 

Created by indahnesia.com · feedback & contact · © 2000-2019
Other websites by indahnesia.com: ticketindonesia.info · kamus-online.com · indonesiepagina.nl · suvono.nl

Valid HTML 4.01 Transitional 120,847,880 pageviews Discover Indonesia Online at indahnesia.com