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Fuel prices in Indonesia set to rise by 30 per cent
Indonesia is set to raise fuel prices by as much as 30 per cent on Thursday.
- Agencies
- Published: 09:54 May 15, 2008
Jakarta: Indonesia is set to raise fuel prices by as much as 30 per cent on Thursday.
The announcement is a reaction to rising oil prices.
The government currently spends $13.65bn a year subsidizing fuel costs but the budget has been hit hard by the cost of oil.
Finance Minister Sri Mulyani Indrawat said: "The government will increase the fuel price by maximum 30 percent.''
The government has vowed to protect the poor through cash handouts for families who would be worst hit by the fuel price hike.
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