TEMPO.CO, Jakarta - In response to the decline in the world’s oil price, Coordinating Minister for the Economy Sofyan Djalil said that the government would launch new policies on the price of fuel before the end of the year.

Sofyan also said that the government was still evaluating the measures to be taken, including revising the price of fuel.

"Revising the price (of fuel) is one of the options to be considered. The decrease will be considered in accordance with the decrease of global fuel price,” Sofyan said on Friday, December 12, 2014.

According to Sofyan, the government is considering three options, with one of them being to decrease the price of fuel. However, he said that the option would still be further considered because the average price of global oil is still higher than the price set in 2014.

He also said that the policies to be taken would be permanent but he declined to specify the the three options being considered by the government.

"Before the end of the year, we will announce permanent policies. We’ll choose the best one,” he said.

For the record, the average global oil price is currently at US$60 per barrel. The price of Brent crude oil dropped by 45 percent into US$62 per barrel as opposed to the price in June, while Light Sweet oil is now priced at US$58.74 per barrel.

ANANDA TERESIA