Indonesia to hike imports of higher quality fuel

Jakarta

INDONESIA will increase imports of higher quality unsubsidised fuel by 600,000 barrels in December to help meet an expected quadrupling of demand after the government hiked prices for subsidised fuel, an energy official said on Tuesday.

Indonesian President Joko Widodo on Monday raised subsidised petrol and diesel prices by more than 30 per cent to help fund his reform agenda, a move expected to save the government up to 140 trillion rupiah (S$15.2 billion) next year.