President Rules out Raising Fuel Prices
JAKARTA ~ President Susilo Bambang Yudhoyono has ruled out increasing government-set fuel prices amid soaring world crude prices.
“That option is not there. What we are looking for is a solution that is right on target, at least alleviating the impact without having to give rise to new problems for the people,” Yudhoyono said on Wednesday.
The government still subsidizes the price of fuel for transportation and household consumption and has in the past cut subsidies when world oil prices have jumped, pushing fuel prices up.
“At the appropriate time, if prices really continue to be like this or become even higher, of course, there would be significant actions that we will take,” the president said.
Indonesia, Southeast Asia’s only member of the Organisation of Petroleum Exporting Countries (OPEC), has in recent years become a net oil importer.Filed under: The Nation