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JAKARTA - The state-owned oil and gas company PT Pertamina said on Monday it will hike the price of liquefied petroleum gas (LPG) for households by 23 percent starting July 1. Pertamina said the move takes into account the sharp increase in LPG prices in the international market as well as the higher operation and distribution costs as a result of the fuel price hike.
It expected that the price hike would also create a better business climate for selling the LPG, since the current prices are far below international prices. The last time Pertamina raised prices of LPG, back in 2005, the international price was some 310 USD per tonne, which is now 830 USD per tonne. After the increase one 12 kilogram unit will cost some 63.000 Rupiah, up from the current 51.000 Rupiah. But Pertamina stated that this price was still about half of the commercial price.
Pertamina also said the price of LPG for poor families, which is sold in 3 kg canisters and subsidised by the government, is maintained at 4,250 rupiah per kg. Pertamina's LPG stock now stands at 83,217 metric tonnes, or sufficient to meet nationwide demand for 17 days.
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