BY SANJANA BEHERA

Indonesia Hikes Fuel Prices To Balance Ballooning Subsidies

Indonesia has now taken a decision to ensure to get at par with ballooning subsidies with the...

Indonesia/Pinterest

SUBSIDISED FUEL PRICES

30% HIKE IN

WHAT ARE THE NEW PRICES

?

FROM  7,650 Rupiah to 10,000 Rupiah, per liter.

SUBSIDISED GASOLINE

FROM  5,150 Rupiah to 6,800 Rupiah, per liter.

SUBSIDISED DIESEL

-Joko Widodo, Indonesian President

"

I actually wanted domestic fuel prices to remain affordable by providing subsidies, but the budget for subsidies has tripled and will continue to increase

The decision is also fueled by the...

RISING GLOBAL FUEL PRICES

DEPRECIATING RUPIAH CURRENCY

might have risked a mass uprising with such a sensitive decision as this.

INDONESIA