Indonesian President signs new fuel oil regulation

Indonesian President Susilo Bambang Yudhoyono signed a new presidential regulation that provides for limits in the use of certain fuel oils. However, Coordinating Minister of Economy Hatta Radjsa said that Presidential Regulation No. 15 of 2012 does not specify a schedule on the limitation and the option for increases in the price of subsidized premium is still open. Yudhoyono explained that the government is still looking into the price adjustment issue. “When the time comes whether or not there will an increase, I will hold the responsibility. Now the important thing is to accelerate the conversion of fuel oils into gas fuel,” Yudhoyono said. (February 17, 2012)