State Minister for Power, Energy and Mineral Resources Nasrul Hamid hopes that fuel oil prices will fall as they will be adjusted with prices in the international market within a few days.
“A proposal has been sent to the prime minister for approval. If approved, we expect the prices to come down,” he said to reporters at the Secretariat on Sunday.
The state minister said prices of fuel oils will be announced for the first time in the country soon under the new formula.
Asked whether the price of all types of oil will decrease, Nasrul said: “Our main target is diesel, which is used more in irrigation, cargo and public transport.”
The state minister also expressed hope that transport fares including will decrease if the prices of fuel oilscome down.
