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
Have You Seen This Man?
Police in Bali Searching for American Who has Escaped Baliís Kerobokan Prison
(12/10/2017)
Dear Mr. President
PHRI-Bali Writes to President Joko Widodo Seeking Urgent Assistance to Bali Tourism
(12/10/2017)
Christmas at the Bali Safari & Marine Park
Special Offer from Bali Safari and Marine Park Through January 3, 2017 for the Domestic Market
(12/11/2017)
Your Better Not Shout! You Better Not Cry!
Bali Collection Holds Santa Fun Run at Nusa Dua Sunday, December 17, 2017
(12/10/2017)
Mate, What Volcano?
Garuda Indonesia Says Demand for Bali as a Holiday Destination ex Australia Remains Strong Despite Mt. Agungís Recent Volcanic Activity
(12/10/2017)
Keep Calm. Itís Only a Volcano
Editorial: Bali and the World Needs a New Way of Thinking About Volcanoes
(12/12/2017)
Painted Men and Boys
Young Men from Tegallalang, Bali Paint their Bodies to Ward Off Both Personal and Public Demons in Ngerebeg Procession
(12/10/2017)
Fake News on a Local Level
PHRI Karangasem Chairman Claims of Closed Hotels Strongly Refuted and Rejected by Alila and Amankila Hotels
(12/10/2017)
Counting the Damages
Officials Calculate the Cost of Tourism Losses from 2.5-day Closure of Baliís Airport
(12/10/2017)
No More Traffic Jams in Ubud
A Very Quiet Ubud Awaits the Return of Tourists
(12/10/2017)
Let there Be Light!
ITDC Hosts Nusa Dua Light Festival December 5-24, 2017
(12/10/2017)
The Road Less Traveled
Bali Toll Road Traffic Volume Down 25% Due to Lower Visitor Totals
(12/10/2017)
All [News]!