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Gasoline Price Hikes

By Anonymous
Publication: Asian Textile Business
Date: Saturday, July 1 2006

State-owned oil and gas company Pertamina announced new oil and fuel prices, effective May 1. Prices of gasoline for general use at filling stations remained unchanged; however, selling prices to major users moved up except for fuel oil.

New prices are Rp. 5,469 per liter for premium gasoline

(up 7.3% from the previous month); Rp. 5,665 for kerosene oil (up 2.9%); Rp. 5,513 for light oil for transportation (up 7.5%); Rp. 5,327 diesel oil (up 6.9%); and Rp. 3,662 for fuel oil (down 0.3%).

Price-fixing of oil and fuel not for general households, small and medium firms and public transportation is done on the first day of every month in response to the international oil and fuel market price fluctuation because oil price subsidies do not apply in this case.

The Indonesian domestic textile industry overwhelmed by cheap Chinese-made product imports has moved deeper into recession and is passing a corporate crisis of life or death.

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