"Now the crude oil price is US$110 per barrel but it may go up to US$111 per barrel by the end of the year," Evita said here on Friday.
In the Revised 2011 State Budget, the assumed Indonesian Crude Price (IPC) was set at US$95 per barrel.
Compared with the prediction of US$111 per barrel, the ICP realization was US$16 higher per barrel against the assumed figure in Revised 2011 State Budget.
Evita said further that the crude oil price increase would imply an increase in revenue in the state budget but also an increase in the subsidy expenditure.
"We will discuss this matter with the finance ministry and coordinating ministry for economic affairs," she said, adding that the government would discuss the case with the House of Representatives (DPR) next week.
However, the government had no intention to raise the fuel prices due to the increased subsidy, she said.
Apart from that, Evita also predicted that the 2011 oil consumption in the country will exceed the state budget quota amounting to 40.49 kiloliters.
She also predicted that the domestic subsidized oil consumption in 2011 will reach more than 41 million kiloliters.
According to her, the Energy and Mineral Resources Ministry will bring the fuel quota excess into discussion with the House.(*)
K007/B003/HAJM/S012
Editor: Jafar M Sidik
Copyright © ANTARA 2011
