REPUBLIKA.CO.ID, JAKARTA -- The government through the Ministry of Energy and Mineral Resouces (ESDM) will set fuel prices once in three months so that the price will not fluctuate.
"We will set the prices of fuels in every three months to make stable so that it would not pose problems to the consumers," ESDM Minister Sudirman Said stated here on Sunday.
He said that his side right now needed time to observe and analyze the movements of fuel prices so that the ministry would be able to set the price in November.
"We need to observe the movements of the oil prices to see whether we can already set the price," Said added.
He said that the government will set an upper and lower price limits.
When the basic price of fuels (in the world market) is lower than the lower limit set by the government, the difference would be used as a contribution substitute when the basic price is higher than the upper limit set by the government.
The system is believed to not burden the reserve funds of the state budget because there would be reserve funds to cover the difference.
In the meantime, the world oil price now increased on Saturday morning with a reference of the light sweet crude or the West Texas International for the July shipment.
It rose 2.62 dollars at the closing to 60.30 dollars per barrel in the New York Marcantile Exchange.
In Londan, the European reference, the Brent crude for the July shipment rose 2.98 to 65.56 dollars per barrel.
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