"Admittedly, the president is concerned and asked the coordinating minister for economic affairs to monitor the relatively high oil prices."Jakarta (ANTARA News) - The Indonesian government keeps monitoring the movements of global crude prices after they rose 21 percent in the past couple of weeks due to political unrest in Libya, a minister said.
In response to the upside movement of global oil prices, President Susilo Bambang Yudhoyono asked relevant agencies to raise domestic crude oil output, Coordinating Minister for Economic Affairs Hatta Rajasa said here on Monday.
The president also called for efforts to use energy more efficiently and prevent global oil price hikes from further affecting national food production, he said.
"We keep monitoring (the global crude prices). The president always asks us to raise our (crude oil) production, address food-related problems, and use energy more efficiently," he said.
Presidential spokesman Julian Aldrin Pasha meanwhile said the president was quite concerned about the upside movement of global oil prices and asked the coordinating minister for economic affairs to always monitor the global oil price hike.
"Admittedly, the president is concerned (about the latest oil prices) and asked the coordinating minister for economic affairs to monitor the relatively high oil prices," he said.
Global oil prices rose US$18 a barrel in the New York market in the past couple of weeks. The Brent oil price for March 4 delivery rose US$1.18 a barrel to US$115.97 a barrel compared with two days ago.
The global oil price hike is expected to raise fuel subsidies in the 2011 state budget and put a further strain on the prices of several food commodities.
(T.D013/Uu.S012/HAJM/F001)
Editor: Priyambodo RH
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