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NEWS UPDATES 16 August 2009

Indonesia to raise local LPG price

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Indonesia’s state-owned oil and gas firm PT Pertamina said the government had agreed to its plan to raise the price of liquefied petroleum gas (LPG) in 12-kg containers, Antara reported.

"The government has given the green light for us to adjust the domestic price of LPG in 12-kg cylinders," the state news agency quoted Pertamina spokesman Basuki Trikora Putra as saying.

But Pertamina had decided not to increase the LPG price until after the post-fasting month or Lebaran festivities. The fasting month will start on August 22, 2009 and last 30 days.

"Based on our considerations not to put a burden on consumers, we decided not to raise the price in the runup to the fasting month but to wait until after the lebaran festivities," Putra said.

Pertamina had submitted a proposal to the government to increase the price of LPG, particularly that in 12-kg cylinders in an effort to offset losses it had suffered in its LPG sales so far.

The state-owned firm proposed a price increase of 100 rupiah per kg of the gas or 1,200 rupiah per cylinder. Last year, the company also proposed a price increase of 500 rupiah per kg of LPG in 12-kg cylinders. (1$=9,930 rupiah)

But the proposal last year was rejected by the government on the ground that it would put a burden on consumers. 



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