Indonesia hikes fuel prices
Jakarta, May 24:
Indonesia hiked the prices of fuel by around 30 per cent Saturday in response to soaring global oil prices and a ballooning subsidy bill, leaving hard-pressed households facing even more economic woe.
“Considering the rising global fuel price and the heavy burden of subsidies on the budget, we have decided to raise the fuel price. It is effective at 00:00 May 24,” energy minister Purnomo Yusgiantoro said.
Many ordinary Indonesians say higher fuel prices combined with the recent surge in the cost of food will put an intolerable strain on family budgets.
The price hike sparked protests across the country.