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Anne Aprina Priskila, Kartini L Makmur, ANT
Following the increase in the global oil price index, the Government decided to raise the price of subsidized fuel as of last Sunday, 1 March. The change to the price index was, however, only a slight increase. More specifically, during this February, Mean of Platts Singapore (MOPS)—the price reference for domestic oil prices—fluctuated between 62-74 US dollar/barrel for diesel fuel. Meanwhile, the MOPS for premium gasoline ranged between 55 to 70 US dollar/barrel.
As a consequence, the government increased the price for premium subsidized fuel by IDR 200/liter taking the price for premium throughout Indonesia—excluding Java and Bali—to IDR 6,800/liter, from the previous IDR 6,600/liter. For Java and Bali, the premium fuel now costs IDR 6.900/liter up from the previous IDR 6,700.
According to Saleh Abdurrahman, Head of the Public Communication Center at the Ministry of Energy and Mineral Resources, even though the MOPS price for diesel gasoline also increased, the government put the brakes on in order to maintain national stability.
"The government decided that the price of diesel gasoline and kerosene will remain the same," confirmed Mr. Saleh.
Considering this significant price hike, Satya Widya Yudha, Deputy Chairman of Commission VII at the House of Representatives, is encouraging consumers and businesses to remain calm in response to the increase in the price of premium price.
Fluctuations in oil prices are inevitable, and the Government and Commission VII have already agreed to adjust national oil prices on a monthly basis making adjustments for the MOPS price in particular and the global oil price index in general.
"The role of the government is pivotal to notify the public with comprehensive information," said Mr. Widya.
On that basis, it is also possible for the oil price to fall below current prices, considering recent fluctuations in the global price index. Mr. Yudha believes that we can expect oil prices to go back down, although of speculative activities should be avoided.
(hot/kc)
Following the increase in the global oil price index, the Government decided to raise the price of subsidized fuel as of last Sunday, 1 March. The change to the price index was, however, only a slight increase. More specifically, during this February, Mean of Platts Singapore (MOPS)—the price reference for domestic oil prices—fluctuated between 62-74 US dollar/barrel for diesel fuel. Meanwhile, the MOPS for premium gasoline ranged between 55 to 70 US dollar/barrel.As a consequence, the government increased the price for premium subsidized fuel by IDR 200/liter taking the price for premium throughout Indonesia—excluding Java and Bali—to IDR 6,800/liter, from the previous IDR 6,600/liter. For Java and Bali, the premium fuel now costs IDR 6.900/liter up from the previous IDR 6,700.
According to Saleh Abdurrahman, Head of the Public Communication Center at the Ministry of Energy and Mineral Resources, even though the MOPS price for diesel gasoline also increased, the government put the brakes on in order to maintain national stability.
"The government decided that the price of diesel gasoline and kerosene will remain the same," confirmed Mr. Saleh.
Considering this significant price hike, Satya Widya Yudha, Deputy Chairman of Commission VII at the House of Representatives, is encouraging consumers and businesses to remain calm in response to the increase in the price of premium price.
Fluctuations in oil prices are inevitable, and the Government and Commission VII have already agreed to adjust national oil prices on a monthly basis making adjustments for the MOPS price in particular and the global oil price index in general.
"The role of the government is pivotal to notify the public with comprehensive information," said Mr. Widya.
On that basis, it is also possible for the oil price to fall below current prices, considering recent fluctuations in the global price index. Mr. Yudha believes that we can expect oil prices to go back down, although of speculative activities should be avoided.
(hot/kc)
Anne Aprina Priskila, Kartini L Makmur, ANT
Following the increase in the global oil price index, the Government decided to raise the price of subsidized fuel as of last Sunday, 1 March. The change to the price index was, however, only a slight increase. More specifically, during this February, Mean of Platts Singapore (MOPS)—the price reference for domestic oil prices—fluctuated between 62-74 US dollar/barrel for diesel fuel. Meanwhile, the MOPS for premium gasoline ranged between 55 to 70 US dollar/barrel.
As a consequence, the government increased the price for premium subsidized fuel by IDR 200/liter taking the price for premium throughout Indonesia—excluding Java and Bali—to IDR 6,800/liter, from the previous IDR 6,600/liter. For Java and Bali, the premium fuel now costs IDR 6.900/liter up from the previous IDR 6,700.
According to Saleh Abdurrahman, Head of the Public Communication Center at the Ministry of Energy and Mineral Resources, even though the MOPS price for diesel gasoline also increased, the government put the brakes on in order to maintain national stability.
"The government decided that the price of diesel gasoline and kerosene will remain the same," confirmed Mr. Saleh.
Considering this significant price hike, Satya Widya Yudha, Deputy Chairman of Commission VII at the House of Representatives, is encouraging consumers and businesses to remain calm in response to the increase in the price of premium price.
Fluctuations in oil prices are inevitable, and the Government and Commission VII have already agreed to adjust national oil prices on a monthly basis making adjustments for the MOPS price in particular and the global oil price index in general.
"The role of the government is pivotal to notify the public with comprehensive information," said Mr. Widya.
On that basis, it is also possible for the oil price to fall below current prices, considering recent fluctuations in the global price index. Mr. Yudha believes that we can expect oil prices to go back down, although of speculative activities should be avoided.
(hot/kc)
Following the increase in the global oil price index, the Government decided to raise the price of subsidized fuel as of last Sunday, 1 March. The change to the price index was, however, only a slight increase. More specifically, during this February, Mean of Platts Singapore (MOPS)—the price reference for domestic oil prices—fluctuated between 62-74 US dollar/barrel for diesel fuel. Meanwhile, the MOPS for premium gasoline ranged between 55 to 70 US dollar/barrel.As a consequence, the government increased the price for premium subsidized fuel by IDR 200/liter taking the price for premium throughout Indonesia—excluding Java and Bali—to IDR 6,800/liter, from the previous IDR 6,600/liter. For Java and Bali, the premium fuel now costs IDR 6.900/liter up from the previous IDR 6,700.
According to Saleh Abdurrahman, Head of the Public Communication Center at the Ministry of Energy and Mineral Resources, even though the MOPS price for diesel gasoline also increased, the government put the brakes on in order to maintain national stability.
"The government decided that the price of diesel gasoline and kerosene will remain the same," confirmed Mr. Saleh.
Considering this significant price hike, Satya Widya Yudha, Deputy Chairman of Commission VII at the House of Representatives, is encouraging consumers and businesses to remain calm in response to the increase in the price of premium price.
Fluctuations in oil prices are inevitable, and the Government and Commission VII have already agreed to adjust national oil prices on a monthly basis making adjustments for the MOPS price in particular and the global oil price index in general.
"The role of the government is pivotal to notify the public with comprehensive information," said Mr. Widya.
On that basis, it is also possible for the oil price to fall below current prices, considering recent fluctuations in the global price index. Mr. Yudha believes that we can expect oil prices to go back down, although of speculative activities should be avoided.
(hot/kc)