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Indonesia hikes fuel prices by 30%, cuts energy subsidies

Indonesia hikes fuel prices by 30%, cuts energy subsidies #Indonesia #hikes #fuel #prices #cuts #energy #subsidies Welcome to Viasildes, here is the new story we have for you today:

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JAKARTA, Indonesia (AP) — Fuel prices have increased by about 30% across Indonesia after the government reduced some of the costly subsidies that have kept inflation in Southeast Asia’s largest economy among the world’s lowest. Long lines of motorbikes and cars snaked around gas stations as motorists waited for hours to fill up their tanks with cheaper gas before the increase took effect on Saturday. The hike — the first in eight years — raised the price of gasoline from about 51 cents to 67 cents per liter and diesel fuel from 35 cents to 46 cents. President Joko Widodo says it was his last option as the country’s energy subsidy had tripled this year as a result of rising global prices of oil and gas.

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