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Business

Indonesia cuts oil prices
Jan 13, 2009 04:00
Indonesian President Susilo Bambang Yudhoyono announced subsidized-oil prices cuts on Monday to boost purchasing power. The move was Indonesia's latest effort to cushion the deepening fallout of the global recession, following the fall of global oil price up to over 40 U.S. dollars per barrel after reaching record of 147 U.S. dollars a barrel in July. The Southeast Asia largest economy reduced premium prices from 5,000 rupiah some 0.45 U.S. dollar per liter to 4,500 rupiah abo ...


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