Pain At The Pump For Indonesia
Indonesia’s new president, Joko Widodo, who is commonly known as Jokowi, looks set to raise the price of fuel in Indonesia as early as October in a bold move that pitches the archipelago nation’s love of cheap fuel against the need to free up State funds for investing into South East Asia’s largest economy. In the past, Indonesia was a net exporter of oil products and a member of OPEC, but the production rates have dropped and consumption increased to a level that now the country needs to import crude and refined products. The current subsidy system sees the once proud member of OPEC importing crude and ready refined products at a cost of about US$1 per litre, but sells it for about 55 cents at the pumps – the same place where it will cost you about eighty five cents to buy a bottle of water.






