30% gasoline price hike in IndonesiaStaff writer ▼ | November 18, 2014
Indonesian President Joko Widodo announced that gasoline prices will rise by 30.77% and diesel prices by 36.36% to reduce massive fuel subsidies, a first major decision aimed at reviving Indonesia's economy.
Subsidies Indonesian President Joko Widodo:
Finance Minister Bambang Brodjonegoro said the government expected to save more than 100 trillion rupiah ($8.2 billion) from the price hike, which will be transferred to boost infrastructure and other programs.
Former President Susilo Bambang Yudhoyono raised the price of gasoline and diesel by 44% and 22% respectively in June 2013. ■