Bali Discovery Tours: Homepage
Bali Hotels, Bali Villas and Bali News from balidiscovery.com
Home Bali Contact Bali Practicalities Bali News Bali Services Bali Transportation Bali Sports Bali Excursions Bali Villas Bali Hotels
Home · News · Fuel Price Increase Delayed For Now
Bali Hotels, Bali Villas and Bali News from balidiscovery.com
Bali Hotels
Bali Villas
Special Deals!
Packages
MICE Handling
Bali Excursions
Culinary - Dining
Guided Tour
Bali Spas
Bali Sports
Diving
Golf
Bali Transportation
Car Rental - Selft Drive
Private Jet Charter
Bali News
Bali Services
Bali Practicalities
Bali Contact
Bali Career
Home
 
Bali Update
Subscribe to our free weekly newsletter!
 
PATA header
PATA Gold Award 2007
Bali Update
PATA Gold Award Winner 2007
 
Bali Contact
Bali Discovery Tours
Jln. By Pass Ida Bagus Mantra,
Jln. Pucuk 1 No. 70X
Denpasar, Bali
Indonesia

24h:
+62 (0)812 3819724
Tel:
+62 (0)361 464 032, +62 (0)361 471 0242

Bali Discovery

SITE PATA ASITA
Bali News

Fuel Price Increase Delayed For Now

Indonesian Legislators Delay Fuel Price Increase as Demonstrators Surround DPR


Bali News: Bali, Indonesia, BBM, Fuel Price Increase, Crude Oil Prices, National Budget
Click Image to Enlarge

(4/2/2012)

On Friday night, March 30, 2012, in an eleventh-hour reprieve, the Indonesian national legislature effectively vetoed a raise in the cost of gasoline by 33% scheduled for April 1st.

Meeting until the early hours of Saturday, a full-sitting of the House of Representatives (DPR) struck a compromise with the national leadership to allow fuel prices to increase if the price of Crude Oil exceeds assumption stipulated in the National Budget by more than 15% for a period of at least six months.

The deliberations in the DPR were punctuated by frequent breaks to allow lobbying and consultation among and between political factions in the House. Meanwhile, outside, on the streets of the Capital and the rest of Indonesia, protests, sometimes marked by violence, were taking place. At one point during the day, angry protestors managed to breach the walled fortifications and police lines surrounding the DPR.

In the face of protests and legislative deliberations, a planned trip by Indonesia’s President Susilo Bambang Yudhoyono canceled a trip to Phnom Penh to attend an ASEAN leader’s summit, allowing the Vice-President to attend in his stead.

The price hike in fuel, claimed by the government as essential to reduce crippling fuel-price subsidies where the price of premium gas remains 75% below the world average price, became highly politicized. The PDI-P, Gerinda and Hanura parties stubbornly refused to entertain arguments on behalf of a price increase.

The 2012 State Budget assumes a Crude Oil price of US$105 per barrel.

As reported by The Jakarta Globe the price of Indonesian Crude was $109.25 per barrel in October 2011, rising in November to $112.94, December saw a price decrease to $110.70, January at $115.90, February at $122.17 and March at $128.

According to the new government-established "trigger" for a domestic increase in fuels costs, a price of US$135 a barrel for April would clear the way for a price hike as early as May. That price would bring the average price of Indonesian Crude over the preceding six months to US$120.75, passing the threshold required for higher prices at the fuel pumps.

Related Article

[Bali’s Iconoclastic Governor]


© Bali Discovery Tours. Articles may be quoted and reproduced if attributed to http://www.balidiscovery.com.

       

 
Bali News by Bali Update
Subscribe to the Bali Update
Receive the latest news from Bali by email!



Our [Privacy Statement] explains how we handle the data you are providing.

 
Bali News by Bali Update
Explore the Archive of the Bali Update
Find related articles in our news archive!




or try to use Google Search :

Home · Bali Hotels · Bali Villas · Bali Excursions · Bali Sports · Bali News · Site Map · RSS

Bali News: More News
Working to Preserve and Promote Bali Arts
Bale Banjar Culture Club to Feature Peter J. Wilson and Made Sidia – World Renowned Producers of Balinese Stage Performances
(4/15/2018)
Does Bali Already Have a Second International Airport?
Editorial: A Practical Perspective on a Second Airport for Bali
(4/15/2018)
Shopping on Touchdown in Bali
New Duty Free Shopping Area for International Passengers Arriving in Bali
(4/15/2018)
Seeking Wider Horizons of Understanding
TEDxUbud Event Set to Stimulate Innovation and Creativity on Saturday, May 5, 2018
(4/15/2018)
Keeping the News Cycle Positive
Udayana Military Commander Calls on Media to ’Self-Censor’ and Avoid Controversial Reporting in Run-Up to IMF-World Bank Meeting
(4/15/2018)
Fugitives No More
Fugitive German and Indonesian Wife Captured by State Prosecutors to Start Serving Prison Sentences Handed Down in Bali Property Scam
(4/15/2018)
Enhancing the Quality of Bali Visitors
Tourism Ministry Outlines How Bali Can Attract Higher Quality Tourist Visitors
(4/15/2018)
Roll Out the Barrels
Australian Government Assisting Bali in Conquering Mounting Trash Problem
(4/15/2018)
The Rainbow Connection
Green Peace’s Rainbow Warrior Uses Bali Visit to Fight Coal-powered Electricity, Plastic Pollution and Lend Support to ForBALI’s Fight Against Reclamation of Benoa Bay
(4/15/2018)
Friday the 13th in Bali
Tourist Bus Kills One Man and Damages 6 Cars and 2 Motorcycles in Spectacular Chain-Collision Near Bali’s GWK Monument
(4/15/2018)
3-Month Sticker Visas for Vehicles Visiting Bali
Bali Government Seeking to set 3-month Limit on the Amount of Time Cars Registered Outside Bali can Spend in the Province
(4/15/2018)
Shown the Door
North Bali Immigration Deports Dutch Husband and Wife for Illegally Operating Two Rental Villas
(4/15/2018)
All [News]!