By Leony Aurora
Aug. 1 (Bloomberg) -- PT Pertamina, Indonesia's state oil company, cut the prices of most oil-based fuels sold to factories and mining companies by as much as 7.2 percent from its last revision on July 15, after crude-oil prices declined.
The new prices, to be imposed on most parts of the country including Java, Bali and Sumatra islands, will take effect today, the company said in a statement on its Web site.
Indonesia imports a third of its oil products because of insufficient refining capacity. Pertamina uses prices in Singapore as assessed by oil-pricing service Platts to determine fuel costs for industries.
Prices are in rupiah/liter, excluding taxes
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Fuel Prices as of Prices as of
Aug. 1 July 15
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Gasoline 8,666 9,343
Kerosene 11,145 11,550
High-speed Diesel 10,943 11,522
Marine Diesel 10,761 11,268
Fuel Oil 7,596 7,370
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To contact the reporter on this story: Leony Aurora in Jakarta at laurora@bloomberg.net.
Friday, August 1, 2008
Pertamina Cuts Fuel Prices for Miners, Factories By Up
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