"I think it is the time (to lower the price) as the price of energy in the world has been falling continuously," Rizal r Ramli said here on Wednesday.
According to him, there are a number of reasons why the prices should be reduced. First, energy prices in the world are currently falling and the world oil prices have plunged to a below 40 US dollar/barrel level, the lowest in the last 11 years, he added.
The second reason is that while the supply of oil has dramatically increased, demand for it has actually fallen as a result of the global economic slowdown.
"And the third reason, which is also very important, is the discovery of large oil fields in northern Russia," Minister Ramli added.
Due to these reasons, the government should have lowered the fuel price in any case.
Previously, Minister of Energy and Mineral Resources (ESDM) Sudirman Said had confirmed that the fuel price, like the world oil prices, will come down in January 2016.
Meanwhile, Director General of Oil and Gas ESDM I Gusti Nyoman Wiratmadja Puja said the official price for non-subsidized fuel for the month of January 2016 will be announced on Wednesday.
He predicted that the price of premium gasoline will be lowered by around Rp300 per liter and the price of diesel oil by Rp500 per liter in January 2016.(WDY)
