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Indonesia hikes fuel prices to rein in ballooning subsidies

·1 min read

JAKARTA, Sept 3 (Reuters) - Indonesia will raise the domestic price of subsidised fuels by about 30%, its energy minister said on Saturday as the government moves to rein in ballooning subsidies despite a risk of mass protests.

Effective an hour after the announcement, the price of subsidised gasoline will rise to 10,000 rupiah (67 U.S. cents) a litre from 7,650 rupiah, while that of subsidised diesel will increase to 6,800 rupiah a litre from 5,150 rupiah, energy minister Arifin Tasrif said.

($1 = 14,895.0000 rupiah) (Reporting by Stanley Widiant, Gayatri Suroyo, Ananda Teresia; Editing by Clarence Fernandez, Ed Davies and William Mallard)