JAKARTA (Yosefardi) – Coordinating minister for economy Sofyan Djalil said the government will cut back subsidized fuel price to adjust the current oil price.
Now crude oil price is traded at below US$48 per barrel. The government will adjust the domestic fuel price, mainly premium and diesel fuel, by end of this month.
The adjusted price will be based on average price during the period of December 24, 2014 to January 24, 2015.
The government set premium fuel price at Rp7600 per liter and diesel fuel price at Rp7250 per liter starting January 1, 2015, based on Mean of Platts Singapore (MoPS).