Bali Discovery Tours: Homepage
Bali Hotels, Bali Villas and Bali News from balidiscovery.com
Home Bali Contact Bali Practicalities Bali News Bali Services Bali Transportation Bali Sports Bali Excursions Bali Villas Bali Hotels
Home · News · Fuel Price Increase Delayed For Now
Bali Hotels, Bali Villas and Bali News from balidiscovery.com
Bali Hotels
Bali Villas
Special Deals!
Packages
MICE Handling
Bali Excursions
Culinary - Dining
Guided Tour
Bali Spas
Bali Sports
Diving
Golf
Bali Transportation
Car Rental - Selft Drive
Private Jet Charter
Bali News
Bali Services
Bali Practicalities
Bali Contact
Bali Career
Home
 
Bali Update
Subscribe to our free weekly newsletter!
 
PATA header
PATA Gold Award 2007
Bali Update
PATA Gold Award Winner 2007
 
Bali Contact
Bali Discovery Tours
Komplek Pertokoan
Sanur Raya No. 27
Jl. By Pass Ngurah Rai,
Sanur, Bali, Indonesia

Tel:
++62 361 286 283

Fax:
++62 361 286 284

U.S.A. Fax:(toll free)
1-800-506-8633

U.K. Fax:
++44-20-7000-1235

Australian Fax:
++61-2-94750419

24h:
++62 812 3819724

Bali Discovery

SITE PATA ASITA
Bali News

Fuel Price Increase Delayed For Now

Indonesian Legislators Delay Fuel Price Increase as Demonstrators Surround DPR


Bali News: Bali, Indonesia, BBM, Fuel Price Increase, Crude Oil Prices, National Budget
Click Image to Enlarge

(4/2/2012)

On Friday night, March 30, 2012, in an eleventh-hour reprieve, the Indonesian national legislature effectively vetoed a raise in the cost of gasoline by 33% scheduled for April 1st.

Meeting until the early hours of Saturday, a full-sitting of the House of Representatives (DPR) struck a compromise with the national leadership to allow fuel prices to increase if the price of Crude Oil exceeds assumption stipulated in the National Budget by more than 15% for a period of at least six months.

The deliberations in the DPR were punctuated by frequent breaks to allow lobbying and consultation among and between political factions in the House. Meanwhile, outside, on the streets of the Capital and the rest of Indonesia, protests, sometimes marked by violence, were taking place. At one point during the day, angry protestors managed to breach the walled fortifications and police lines surrounding the DPR.

In the face of protests and legislative deliberations, a planned trip by Indonesia’s President Susilo Bambang Yudhoyono canceled a trip to Phnom Penh to attend an ASEAN leader’s summit, allowing the Vice-President to attend in his stead.

The price hike in fuel, claimed by the government as essential to reduce crippling fuel-price subsidies where the price of premium gas remains 75% below the world average price, became highly politicized. The PDI-P, Gerinda and Hanura parties stubbornly refused to entertain arguments on behalf of a price increase.

The 2012 State Budget assumes a Crude Oil price of US$105 per barrel.

As reported by The Jakarta Globe the price of Indonesian Crude was $109.25 per barrel in October 2011, rising in November to $112.94, December saw a price decrease to $110.70, January at $115.90, February at $122.17 and March at $128.

According to the new government-established "trigger" for a domestic increase in fuels costs, a price of US$135 a barrel for April would clear the way for a price hike as early as May. That price would bring the average price of Indonesian Crude over the preceding six months to US$120.75, passing the threshold required for higher prices at the fuel pumps.

Related Article

[Bali’s Iconoclastic Governor]


© Bali Discovery Tours. Articles may be quoted and reproduced if attributed to http://www.balidiscovery.com.

       

 
Bali News by Bali Update
Subscribe to the Bali Update
Receive the latest news from Bali by email!



Our [Privacy Statement] explains how we handle the data you are providing.

 
Bali News by Bali Update
Explore the Archive of the Bali Update
Find related articles in our news archive!




or try to use Google Search :

Home · Bali Hotels · Bali Villas · Bali Excursions · Bali Sports · Bali News · Site Map · RSS

Bali News: More News
An Exercise in Good Taste
Flavour of Bali Book Launched at Cocktail Held at Trans Resort Bali
(5/30/2016)
Major Anti-Narcotics Arrest
Bali Authorities Arrest Two Chinese Suspected on Participating in the Smuggling of 70 kilograms of Methamphetamines via Jakarta
(5/30/2016)
The Cost of Quantity Before Quality
Bank Indonesia Report Says substantial Chinese Travel Market Brings Minimum Benefits to National Economy
(5/30/2016)
Stop Human Trafficking
Group of Women from West Sumba with Fake IDs Netted by Bali Airport Security
(5/30/2016)
He Thought he Could Fly
Rowdy Australian Man May Face 2 Year in Bali Prison for Behaving Badly on AirAsia Flight from Sydney
(5/30/2016)
Bali Temples as Repositories of History
Expert Urges Care and Caution in the Care and Restoration of Bali’s Hindu Temples
(5/30/2016)
Anything But Therapeutic
13-Year-Old Australian Boy Claims Sexual Molestation at Kuta, Bali Spa
(5/30/2016)
The Road to Bali
BALINALE – Bali International Film Festival Hosting Career Day for Aspiring Film Makers in Bali June 1-2, 2016
(5/30/2016)
A Dose of Leniency for Two Airlines
Transportation Ministry Dilutes Punishments Given to Lion Air and AirAsia for Poor Airport Ground Handling
(5/30/2016)
Hand Off Our Kids!
President Joko Widodo Decrees New Punishments Including Castration and Electronic Monitoring for those Convicted of Sexual Misconduct with Children
(5/30/2016)
April Arrivals to Bali Up 21.3%
Bali by the Numbers: Foreign Tourist Arrivals January-April 2016 Up 16.77%. Will Bali End 2016 with 4.6 Million Visitors?
(5/30/2016)
A Dozen Years in a Bali Jail
Bulgarian Sentenced to 12 Years in Prison for ATM Fraud Scheme in Bali
(5/30/2016)
All [News]!