Actually, there is a slight price increase, but on an average, it is relatively the same."
Jakarta (ANTARA News) - The government has taken a decision that on February 1, the prices of premium gasoline and diesel oil will remain the same as the current levels.

"The reference price is relatively stable, so the government has decided to not raise or lower the prices and will remain same as the prices set on January 19, 2015," Secretary General of the Ministry of Energy and Mineral Resources (ESDM) Teguh M. Pamudji noted here on Thursday.

Pamudji made the remarks after attending a hearing between Commission VII on energy affairs of the House of Representatives (DPR) and ESDM Minister Sudirman Said on Thursday.

He stated that the price of premium gasoline in Java as per February 1, will remain the same at Rp6.7 thousand per liter, Rp seven thousand per liter in Bali, and Rp6.6 thousand per liter outside Java-Bali.

The price of diesel oil will also remain unchanged at Rp6.4 thousand per liter.

Earlier, the prices of premium and diesel oil on January 19 were lowered from those on January 1 when the premium gasoline price in Java dropped from Rp7.6 thousand per liter to Rp6.7 thousand per liter, from Rp7.9 thousand per liter to Rp seven thousand in Bali, and from Rp7.6 thousand to Rp6.6 thousand per liter outside Java-Bali. The price of diesel oil dropped from Rp7.25 thousand to Rp6.4 thousand per liter.

Earlier, Marketing Director of state-owned oil and gas company Pertamina Ahmad Bambang noted that the February 1 price was decided on the basis of the Mean of Platts Singapore (MOPS) in the period between January 17 and January 24, 2015.

"Actually, there is a slight price increase, but on an average, it is relatively the same," he stated.

In the meantime, the global oil prices, which have continued to fall since mid-2014, have the potential to rebound significantly to up to US$90 a barrel this year, Standard Chartered Bank senior economist Fauzi Ichsan has forecast.

Therefore, the Indonesian Crude Price (ICP) assumption set in the revised 2015 state budget at US$70 a barrel is not relevant to the market forecast, he stated during a Global Research Briefing here on Monday.

"If we look at the market consensus, the ICP assumption of US$70 a barrel is not realistic. Why? This is because the market consensus is around US$90 a barrel," he noted.

The Indonesian government has revised downward the ICP assumption to US$70 a barrel in the revised 2015 state budget from US$105 a barrel in the draft 2015 state budget in response to a steady shortfall in the global oil prices to below US$60 a barrel in 2014 from US$100 a barrel previously.

Fauzi noted that the weakening global oil prices have benefited the oil-importing countries and will contribute to the fiscal policies of the countries to boost their economic growth.

On the contrary, the falling global oil prices have negatively impacted the oil-exporting countries, particularly those not having diversified exports, he pointed.

The shortfall will also have an impact on countries that still rely on raw material exports, including Indonesia, he added.

Editor: Priyambodo RH
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