"We will come to conclusion only in one or two days. The drop will be significant," Energy and Mineral Resources Minister, Sudirman Said stated.Jakarta (ANTARA News) - The Indonesian government is set to cut premium gasoline and diesel oil prices after taking into account the fluctuations in global oil prices, the rupiahs exchange rate against the U.S. dollar and an efficient supply chain.
"We will come to conclusion only in one or two days. The drop will be significant," Energy and Mineral Resources Minister, Sudirman Said stated after a coordination meeting to discuss efforts to stabilize fuel oil and gas prices on Thursday.
The new fuel prices will be effective from April 1 to June 30, 2016, which is consistent with the oil price policy set forth every quarter by virtue of the Energy and Mineral Resource Ministrys decision.
Sudirman said the shortfall in fuel oil prices, which will be announced at the end of March 2016, will bring the fuel oil prices closer to their economic prices. The new fuel oil prices are also adjusted to the condition of low-income people.
"We want to maintain stability. We dont want to cut them to the bottom, but they increase again ahead of the post-fasting month festivity Lebaran. We set the price formula, which does not exactly reach the bottom, but comes closer to the economic price," he said.
Earlier, the government had set the prices of premium gasoline at Rp7,150 per liter and diesel oil at Rp5,950 per liter, compared with Rp7,300 per liter for premium gasoline and Rp6,700 per liter for diesel oil.(*)
Editor: Heru Purwanto
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