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Jakarta Post
The Jakarta Post
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DKI Jakarta, Indonesia
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Law of One Price defeats oil subsidy

  • Darmawan Prasodjo

Durham, North Carolina | Tue, August 9 2011 | 07:00 am

PREMIUM Fuel shortages are spreading across Indonesia like an ominous red flag signaling that we have systemic problems. Long gasoline lines are everywhere, even as government subsidies grow to all-time highs with the recent approval of a massive 35 percent increase in fuel subsidies. Where is all of our low-cost gasoline and diesel fuel going?

Between 10 and 15 percent is stolen, according to the ...