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Wednesday, February 01, 2006

Prices of Pertamax, other fuels up

State oil and gas firm PT Pertamina is to raise the prices of high-octane premium gasoline and most fuels destined for industrial users by as much as 13 percent, based on a new distribution policy and increases in global crude prices.

Starting February, the company will apply different pricing policies to the unsubsidized Pertamax and Pertamax Plus in each distribution area, Pertamina's fuel division head, Achmad Faisal, said Tuesday. "We'll apply different prices for areas outside Java, depending on distribution and transportation costs," he said.

In Java, Pertamax will be sold at Rp 5,300 per liter (56 U.S. cents), 6 percent higher than the January price, and Pertamax Plus at Rp 5,400 per liter.
The highest price for Pertamax will be in Makasar at Rp 5,650 a liter, 13 percent higher than January's price. Meanwhile, the lowest price for Pertamax Plus will be in Batam at Rp 5,350 per liter, cheaper than in Jakarta.

Pertamina will also raise the prices of most fuels sold to industrial users in February. The price of kerosene will increase the most, 7.9 percent, to Rp 5,740 per liter from Rp 5,320 per liter in January, while the price of premium gasoline will increase by only 3.8 percent to Rp 4,930 per liter.
The price of fuel oil, however, will fall by 2.9 percent to Rp 3,380 per liter.
Pertamina has calculated the new prices based on Mid Oil Platts Singapore (MOPS) prices between Dec. 15 and Jan. 15.

"Global oil prices are on the upward path again," said Pertamina president director Widya Purnama. Crude prices have climbed by 19 percent since Dec. 1 due to tensions over Iran's nuclear research program and rebel attacks in Nigeria. Crude prices in New York rose as much as 0.4 percent to $68.65 early Tuesday, gaining for the fourth straight day.

Widya said the base price for premium gasoline would be $68.16 per barrel, kerosene $79.83 per barrel and diesel fuel $71.62 per barrel. Pertamina is also considering effecting price adjustments every two weeks, instead of once every month.

"We want our prices to better reflect the fluctuations taking place in the global market," said Faisal. He did not say, however, when the firm might start doing this.

Leony Aurora, The Jakarta Post, Jakarta
February 02, 2006

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