Indonesia Mins Mull 40% Petroleum Product Price Hike

Indonesian ministers will likely submit a proposal to hike domestic petroleum products prices by an average of 40%, in order to save around IDR26 trillion in fuel subsidy costs this year, a government official said Monday. The two ministers will also propose to raise petroleum products prices gradually next year, for every quarter, so the prices of these products are on par with those in the international market.
Nasdaq