Pertamina Cuts Fuel Prices for Factories, Miners By Up to 6.7%

By Leony Aurora

Oct. 15 (Bloomberg) -- PT Pertamina, Indonesia's state oil company, cut the prices of oil-based fuels sold to factories and mining companies by as much as 6.7 percent from its last revision on Oct. 1.

The new prices, to be imposed on most parts of the country including Java, Bali, Sumatra and Borneo islands, will take effect on Oct. 15, 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
                                 Oct. 15             Oct. 1
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Gasoline                           6,622               6,805
Kerosene                           7,629               8,123
High-speed Diesel                  7,417               7,951
Marine Diesel                      7,246               7,736
Fuel Oil                           5,724               5,923
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To contact the reporter on this story: Leony Aurora in Jakarta at laurora@bloomberg.net.