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Jakarta Post

Fuel prices could be cut again, says govt

  • Alfian and Erwida Maulia

    The Jakarta Post,

Jakarta   /   Sat, December 27 2008   /  10:55 am

The government may further cut the prices of Premium gasoline and diesel on Jan. 15, hinting it may even, partly or entirely, float the prices of the two subsidized fuels to keep in line with global crude prices. "There might be price revisions for Premium gasoline and diesel on Jan. 15," Energy and Mineral Resources Ministry Purnomo Yusgiantoro said Thursday evening. If it happens, it will be the third such price cut since early December -- a popularity-boosting move that could bode well for the government ahead of next year's elections. Asked about the size of the possible cut, Purnomo said the government was still evaluating all indicators, in particular fluctuations in the price of crude oil. Crude oil traded on the New York Mercantile Exchange Thursday gained about 4 percent to $36.80 a barrel, but analysts said it was only a short-term gain. ...