(4/8/2002)
The Government continued its promised program of gradually reducing all official subsidies on fuel by introducing yet another price hike in the cost of gas and fuel oil on April 1.
The third hike in less than a year, the latest increase sees premium now selling at Rp. 1,600 (+/- $0.17) per liter and diesel fuel at Rp. 1,250 (+/- $0.13) per liter.
Cumulative price increases over the past year are equal to a 60% increase in prices now paid at the gas pumps with plans for the Governemnt to eventually remove the remaining Rp. 50 per liter subsidy provided on premium fuel.
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