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Pertamina takes hit on fuel cost as oil prices rise

Current petrol retail price of 7,300 rupiah a litre is 600 rupiah less than break-even price for state oil firm; it is keen for a change in situation

Jakarta

REBOUNDING crude prices and a weakening rupiah are testing Indonesia's decision to remove petrol subsidies. State oil company PT Pertamina is picking up some of the tab for now, and is signalling it wants that to change.

"Pertamina is taking a loss for the moment," said

sentifi.com

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