Indonesia hikes fuel prices despite popular anger | Bangkok Post: news

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Indonesia hikes fuel prices despite popular anger

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Indonesia on Friday announced the first hike in fuel prices since 2008 despite violent protests against the unpopular measure, as Southeast Asia's top economy seeks to reduce crippling subsidies. 

Demonstrators tussle with police during a protest against the impending oil price increase in Surabaya city in eastern Java island on June 21, 2013. Indonesia on Friday announced the first hike in fuel prices since 2008 despite violent protests against the unpopular measure, as Southeast Asia's top economy seeks to reduce crippling subsidies.

Energy Minister Jero Wacik said the price of fuel would go up more than 30 percent on average from Saturday, in a bid to slash handouts which gobble up a huge chunk of the national budget and have caused concern among investors.

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