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Jakarta Post

SBY hints at lowering fuel prices

  • Abdul Khalik and Alfian

    The Jakarta Post

Jakarta   /   Wed, October 29 2008   /  10:51 am

President Susilo Bambang Yudhoyono has hinted at his willingness to lower fuel prices, a move considered decisive in making or breaking his administration ahead of elections next year. Yudhoyono said Tuesday the government was studying the possibility of a fuel price cut as global crude oil prices continued their decline. "We are studying intensively a plan to lower the fuel prices. If it's considered effective, I will make the decision to lower them," Yudhoyono said after meeting with Finance Minister Sri Mulyani Indrawati and Energy and Mineral Resources Minister Purnomo Yusgiantoro. "If (oil) prices keep falling and our (subsidy) calculation is sufficiently sound, it is my moral obligation to reduce the burden on our people," he said. Analysts say a cut in fuel prices would drastically boost the popularity of the Yudhoyono administration just months ahead of the upcoming e...