TEMPO.CO, Jakarta - The Director General for Oil-and-Gas for the Ministry of Energy and Mineral Resources, I Gusti Nyoman Wiratmadja Puja, said that Premium prices - a brand of subsidised, low-octane fuel marketed by state oil-and-gas company, Pertamina - is set to decrease by Rp. 300 in January 2016. "God willing, the price of Premium is set to decrease by Rp. 200 to Rp. 300," said Wiratmadja at a press conference in Jakarta on Tuesday, December 22, 2015.
Furthermore, continued Wiratmadja, diesel fuels - marketed by Pertamina as Solar - is also expected to experience a decrease of more than Rp. 500 per liter in January 2016. "Pertamina is getting ready to formally announce the decrease on Wednesday, December 23," Wiratmadja said.
Wiratmadja said that the decrease is done as the upper and lower price cap for fuels have been readjusted to better reflect market prices. "Many countries float fuel prices - this could prove to be a solution for Indonesia too," Wiratmadja said.
Previously, Energy and Mineral Resources Minister Sudirman Said has said that fuel prices is set to decline to reflect the continuous decrease in global crude oil prices. "I can almost confirm that a decrease is in the works for January 2016 - but the amount of the decrease I can't say just yet," Sudirman said.
Said explained that as set out by government regulations, fuel prices must be reviewed every three months in order to ensure that retail prices reflect the realities of the global market. Prices were last adjusted in October 2015.
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