Pertamina postpones LPG price rise. (Corporate News In Brief).
Pertamina has postponed an increase in its selling price for
liquefied petroleum gas (LPG) until July 2002 as the prices of oil fuel
has been too high. The domestic fuel prices could not be reduced yet as
the oil prices in the world market remained high in May. There has been
call for reducing the fuel prices following the rupiah appreciation. The
country sets its fueol price based on prevailing prices in the
international market with the Mid Oil Platt's Singapore (MOPS)
system. Pertamina said earlier it planned to raise the price of LPG by
10%-15% by phases. The price hike was to start in April and it was
postponed for May but was delayed again for June. But Pertamina said it
would bring to reality the plan only in July.