JAKARTA. State oil and gas company PT Pertamina on Friday announced it would reduce the price of one of its non-subsidized fuels, Pertamax, from Rp 8,050 (approximately US$0.9) per liter to Rp 7,950 per liter.

Pertamina vice president for corporate communication M. Harun said the reasons for the move included efforts to prevent consumers from shifting to its subsidized product, Premium, which sells at a much lower price of Rp 3,500 per liter.

“Yes, that is one [of the reasons]. Starting from yesterday, Feb. 3, we decided to reduce the price of Pertamax,” Harun said Friday.

However, he added that the price of Pertamax would still basically refer to movements of global oil prices.

“So, as usual we will watch price developments on a two-weekly basis.”

Harun added that the price cut was also prompted by Pertamina’s efforts to provide customers with an “incentive”, with Pertamax sales having doubled from one year earlier. (Rangga D. Fadillah/The Jakarta Post)

Editor: Edy Can