Jakarta—Indonesia’s plan to liberalize retail fuel prices appears to have slid off course with state-owned oil and gas firm Pertamina getting squeezed as a result. The Indonesian government led by President Joko Widodo earlier this year took the bold step of doing away with 88 RON gasoline subsidies and fixing the subsidy on gasoil at Rupiah 1,000 ($0.07)/liter. Higher RON gasoline is not subsidized in the country.
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