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Indonesia: gas price hikes 68 percent

Indonesia’s state-owned oil and gas company PT Pertamina put up the price of non-subsidised 12-kilogramme cylinder of liquefied petroleum gas (LPG) by 68 percent from January 1.
Indonesia’s state-owned oil and gas company PT Pertamina put up theprice of non-subsidised 12-kilogramme cylinder of liquefiedpetroleum gas (LPG) by 68 percent from January 1.

According toPertamina’s vice president Ali Mundakir, the Indonesian Governmentallowed his company to raise the price of gas to make up losses in itsbusiness, which hit 6,000 billion Rp (almost 496 million USD) lastyear.

With the increase, the price of each 12-kg non-subsidised LPG cylinder will become 117,708 Rp (about 9.2 USD).

Earlier, Indonesian Minister of Trade Gita Wirjawan has warned thatthe increase of gas price will make the country’s inflation situationmore serious in 2014.

According to Indonesia’s CentralStatistics Agency, the country witnessed an inflation rate of 8.38percent in 2013, nearly doubling compared to the previous year andputting pressure on the country’s fluctuant economy.-VNA
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