Indonesian Parliament Approves Conditional Fuel-Price Rise

Indonesia’s parliament gave the government conditional authority to raise fuel prices, after President Susilo Bambang Yudhoyono’s Democrat Party dropped its push for an April 1 increase.

Lawmakers voted 356 to 82 in favor of a proposal by the Democrats to allow an increase if the Indonesia Crude Price, or ICP, exceeds the budget assumption of $105 a barrel by 15 percent over a six-month period, Speaker of the House Marzuki Alie said after the 14 ½-hour session ended at about 1:30 a.m. Two opposition parties walked out on the proceedings.