Connect to share and comment

Indonesia hikes fuel prices despite popular anger

Indonesia on Friday announced the first hike in fuel prices since 2008 despite violent protests against the unpopular measure, as Southeast Asia's top economy seeks to reduce crippling subsidies. Energy Minister Jero Wacik said the price of fuel would go up more than 30 percent on average from Saturday, in a bid to slash payouts which gobble up a huge chunk of the national budget and have caused concern among investors.

Indonesia hikes fuel prices despite popular anger

Indonesia on Friday announced the first hike in fuel prices since 2008 despite violent protests against the unpopular measure, as Southeast Asia's top economy seeks to reduce crippling subsidies. Energy Minister Jero Wacik said the price of fuel would go up more than 30 percent on average from Saturday, in a bid to slash payouts which gobble up a huge chunk of the national budget and have caused concern among investors.

Indonesia hikes fuel prices despite popular anger

Indonesia on Friday announced the first hike in fuel prices since 2008 despite violent protests against the unpopular measure, as Southeast Asia's top economy seeks to reduce crippling subsidies. Energy Minister Jero Wacik said the price of fuel would go up more than 30 percent on average from Saturday, in a bid to slash handouts which gobble up a huge chunk of the national budget and have caused concern among investors.

Indonesia announces fuel price hike despite anger

Indonesia on Friday announced its first hike in fuel prices since 2008 despite popular anger against the measure, as Southeast Asia's top economy seeks to reduce crippling subsidies. Energy Minister Jero Wacik said that from Saturday the price of petrol is "at 6,500 rupiah ($0.65) a litre and diesel at 5,500 rupiah a litre". Both fuels previously cost 4,500 rupiah a litre.

Indonesia passes budget, paves way for fuel price hike amid protests

Indonesia's House of Representatives approved the 2013 draft revised budget in a plenary session late Monday after an uneasy, 12-hour process, paving the way for the government to raise subsidized fuel prices amid nationwide protests and clashes with police. A total of 338 of 519 lawmakers attending the session expressed support for the budget, all from the governing coalition parties, while the remaining 181 opposed it -- 130 opposition lawmakers and 51 from the Muslim-based Prosperous Justice Party, which belongs to the coalition.

Indonesia parliament paves way for fuel hike amid protests

Indonesian lawmakers on Monday approved a revised budget in a move that paves the way for the first hike in fuel prices since 2008 amid nationwide protests against the measure. As masked protesters hurling Molotov cocktails clashed with police outside the national parliament in Jakarta, lawmakers inside voted 338 to 181 in favour of the state budget following more than 10 hours of debates. The budget contains extra financial assistance for the poor to shield them from the impact of a rise in the price of fuel, which is expected to increase around 33 percent.

AAA estimates 31.2 million Americans will drive for their Memorial Day getaway this weekend

It's going to be another busy Memorial Day weekend on the nation's highways. During Thursday and Monday, 31.2 million Americans will drive 50 miles or more to a beach, campground or other getaway, according to car lobbying group AAA. That's a small increase from last year but still well short of the record 37.3 million people who drove during the holiday in 2005.

Retail sales flat in March at $39.5B: Statistics Canada

OTTAWA - Statistics Canada says retail sales were flat in March, holding at $39.5 billion. It says after removing the effects of price changes, particularly lower gasoline prices, retail sales in volume terms rose 0.7 per cent. The agency says higher sales were reported in six of 11 subsectors, representing 47 per cent of total retail sales. The largest increase in sales was a 3.1 per cent rise at clothing and clothing accessories stores, while sales at motor vehicle and parts dealers rose 0.7 per cent for a third consecutive monthly gain.

Indonesian president eyes fuel price hike in May

Indonesian President Susilo Bambang Yudhoyono said Tuesday he hopes to lower fuel subsidies that are a risk to Southeast Asia's top economy as soon as May, in a new bid to tackle the flashpoint issue. Yudhoyono gave the clearest sign yet the government wants to hike the price of petrol, which is one of the cheapest in Asia, but cautioned it would only happen once parliament approved compensation for those likely to be affected.

Indonesia seeks to tackle explosive fuel subsidies

The Indonesian government's pledge to reduce generous fuel subsidies which will push up prices for motorists has taken it onto politically treacherous ground before elections in 2014. With mounting concern over the economic damage being wrought by an energy subsidy which gobbles up more than 16 percent of the state budget, the government has set out plans to raise fuel prices for the first time in five years.
Syndicate content