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Jakarta Post

Price of non-subsidized fuel could reach

  • Rangga D. Fadillah

    The Jakarta Post

Jakarta   /   Tue, December 28 2010   /  09:59 am

Car owners in Indonesia will have to dig deeper into their pockets to buy gasoline next year as energy analysts around the globe predict that the global crude oil price may reach more than US$100 (Rp 904,000) per barrel, an expert says.

ReforMiner Institute executive director Pri Agung Rakhmanto said the current increase in the global crude oil price due to the extreme winter in the United States and Europe as well as the reluctance of the Organization of Petroleum Exporting Countries (OPEC) to increase production would continue until next year. “Analysts have projected that the price may hit $100 in the first quarter of 2011. If that happens, we estimate that the price of Pertamax [one of the non-subsidized fuels] may touch Rp 8,900 or Rp 9,000 per liter,” he said over the phone Monday. Currently, the price of Pertamax at state oil and gas firm Pertamina’s fuel stations in ...