Yudhoyono Buffeted by Fuel as Indonesia Election Nears: Economy

Indonesian President Susilo Bambang Yudhoyono is under growing pressure to raise fuel prices and curb oil imports as currency risks persist and the window to act narrows ahead of elections in 2014.

The government will probably need to increase subsidized-fuel prices this year, according to economists at Bank of America Corp., Australia & New Zealand Banking Group Ltd., Standard Chartered Plc, PT Bank Danamon Indonesia and Moody’s Analytics. The country limited the use of partially government-funded diesel last week and the trade minister said Yudhoyono will evaluate energy charges in the next few weeks.