Indonesia Seeks to Regulate More Fuel Prices as Elections Loom
- Retailers to require government permit before raising rates
- Government wants to guard consumers’ purchasing power: Tahar
Photographer: Dimas Ardian/Bloomberg
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Motor fuel retailers including PT Pertamina and Indonesian units of Royal Dutch Shell Plc and Total SA will soon need government approval before raising prices as Southeast Asia’s largest economy seeks to cap inflation ahead of elections.
President Joko Widodo’s government plans to issue a new rule to regulate prices of all oils, barring jet fuel and those for industrial use, Arcandra Tahar, deputy minister for Energy and Mineral Resources, told reporters in Jakarta on Monday. The retailers should consider the impact on inflation before increasing tariffs, he said.