Indonesia hikes fuel prices by 30% across country, cuts energy subsidies ...Middle East

Business Standard - Economy
source : Business Standard ( Middle East ) () 41
Fuel prices increased by about 30 per cent across Indonesia on Saturday after the government reduced some of the costly subsidies that have kept inflation in Southeast Asia's largest economy among the world's lowest. Indonesians have been fretting for weeks about a looming increase in the price of subsidised Pertalite RON-90 gasoline sold by Pertamina, the state-owned oil and gas company. Long lines of motorbikes and cars snaked around gas stations as motorists waited for hours to fill up their tanks with cheaper gas before the increase took effect on Saturday. The hike the first in eight years raised the price of gasoline from about 51 cents to 67 cents per litre and diesel fuel from 35 c

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