As global oil prices tumble, Indonesia’s new government said today it is reviewing its subsidised fuel policy to ensure consumers are not being charged above the market rate: http://www.malaysiakini.com/news/282266
In his first major economic policy decision, President Joko Widodo last month announced a more than 30 percent hike in fuel prices, expected to save up to US$ 11.5 billion next year, to help fund his reform agenda and tackle the current account deficit.
But since then, global crude prices have fallen nearly 10 percent as supply growth led by the US shale oil boom exceeded demand.
