Indonesia Hikes Pertamax Fuel Prices by 32 Percent
State firm Pertamina increased 92-octane gasoline prices to 16,250 rupiah per litre to address rising subsidy costs. Finance Minister Purbaya Yudhi Sadewa expects limited inflationary impact as the hike excludes public transport fuels and subsidized Pertalite remains unchanged.
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Indonesia state firm Pertamina raised prices for 92-octane gasoline by 32.1% to 16,250 rupiah ($0.9053) per litre on June 10. This is the first price hike for Pertamax fuels since the start of the Iran war. Investors are monitoring the move as government subsidy costs for fuel and power jumped 208% in May.