Middle East Economic Survey

VOL. XLVIII

No 41

10-October-2005

Indonesia Announces Large Petroleum Product Price Rises

Indonesia on 1 October announced large price rises for petroleum products amid widespread civil protests. The price of kerosene was increased by 186% to IDR2,000 (19 US cents) per liter from IDR700, premium gasoline rose 87.5% to IDR4,500 from IDR2,400 per liter while diesel rose 105% to IDR4,300 from IDR2,100 per liter. Rising oil prices have forced OPECs only net oil importer to...