KONTAN.CO.ID - JAKARTA. Indonesians must prepare for a potential hike in fuel prices as the government looks to control its ballooning energy subsidies amid high global oil prices, a cabinet minister said on Friday. Southeast Asia's largest economy has tripled this year's energy subsidy budget to 502 trillion rupiah ($34.22 billion) in order to keep some fuel prices and power tariffs unchanged and manage inflation. However, this may not be enough, as nearly all of the subsidised fuel quota has already been used, according to the finance ministry.
Indonesians Must Prepare for a Potential Fuel Price Hike, Minister Says
KONTAN.CO.ID - JAKARTA. Indonesians must prepare for a potential hike in fuel prices as the government looks to control its ballooning energy subsidies amid high global oil prices, a cabinet minister said on Friday. Southeast Asia's largest economy has tripled this year's energy subsidy budget to 502 trillion rupiah ($34.22 billion) in order to keep some fuel prices and power tariffs unchanged and manage inflation. However, this may not be enough, as nearly all of the subsidised fuel quota has already been used, according to the finance ministry.