Indonesia president considers cutting fuel price amid falling global oil prices

President Joko 'Jokowi' Widodo. (Antara Photo/Puspa Perwitasari). Sketched by the Pan Pacific Agency.

JAKARTA, Mar 18, 2020, Reuters. Indonesian President Joko Widodo on Wednesday asked his cabinet ministers to calculate the impact of falling global oil prices on domestic subsidized and non-subsidized fuel prices to protect the economy from the impact of the coronavirus outbreak, Reuters reported.

He ordered his ministers to estimate how long oil prices would stay around $30 per barrel and what this would mean to Southeast Asia’s largest economy and to fuel prices.

The Indonesian government has pledged $8 billion of stimulus to encourage economic growth, including tax breaks for some workers in manufacturing, as the coronavirus pandemic disrupts global economy.

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