"Premium gasoline stocks are safe because it is in keeping with the plan where there is enough stock for over 20 days," Ibrahim Hasyim of BPH Migas saidJakarta (ANTARA News) - Downstream Oil and Gas Regulating Agency (BPH Migas) said Indonesia`s subsidized fuel oil stock was safe and plentiful enough to meet consumption needs for up to 20 days.
"Premium gasoline stocks are safe because it is in keeping with the plan where there is enough stock for over 20 days," Ibrahim Hasyim of BPH Migas said here on Tuesday.
He added that two types of fuels were now distributed to the public; subsidized and non-subsidized fuels with a composition of 60 percent subsidized and 40 percent non-subsidized petrol.
Demand and consumption of subsidized fuels have shown an upward trend, such as in Riau province, where consumption has increased by 15 percent and motorists have begun to line up for refueling at a number of gasoline stations in Gorontalo province.
The government is planning to raise fuel oil prices next month. The value of subsidized fuels in April 2012 is estimated to reach Rp178.62 trillion, or Rp1,500 per liter. The government will need some Rp2.7 trillion in additional funds for each one dollar price increase of crude on the world market.
The subsidized value is obtained from the calculation of the Indonesian Crude Price (ICP) of 105 dollars per barrel, with an exchange rate of Rp9,000 per US dollar.
In the first two months of 2012, fuel oil distribution reached 7.02 million kiloliters, or 18.79 percent of the quota set in the state budget for 2012. The realization figure is 755,000 kiloliters, or 12 percent higher than that in the same period in 2011, which was 6.26 million kiloliters.(*)
Editor: Heru Purwanto
Copyright © ANTARA 2012
