Indonesia considering raising petrol prices as global oil prices goes above US$100

A fuel attendant fills up vehicles at a petrol station in Jakarta. - AFP

JAKARTA, Feb 26 (Bloomberg): Indonesia will consider raising petrol prices after global oil costs surged, with the government still deciding on the magnitude and timing.

"Because if we don’t raise prices, then Pertamina might collapse, while raising prices would affect the people, so we are calculating this,” Coordinating Minister for Investment and Maritime Affairs Luhut Panjaitan told reporters at a briefing in Bali. "We are sure to raise it,” adding that the government has a few scenarios in mind, without giving specifics.