- AP Photo
VIVAnews - The escalating political conflicts in Libya have resulted in the increase of the Indonesia crude price (ICP) at US$111.36 per barrel along February 2011. On the other hand, the assumed price set at the State Budget is US$80 per barrel.
According to Minister of Energy and Mineral Resources Darwin Zahedy Saleh, the government still monitors the fluctuating oil prices.
Despite the hiking ICP, the average prices recorded within the last 12 months were around US$83.45 per barrel.
Law on 2011 State Budget specifies that the assumed ICP may be revised if the realized ICP is either lower or higher than 10 percent of the assumed prices.
"We can't get too nervous about it. It's true that [the oil prices] are now US$112 per barrel. But the approximate prices are still around US$83 per barrel," he said.
Darwin cited the ICP in 2008 as the global economy was dealing with downturn, causing oil prices to touch US4140 per barrel. Nonetheless, the ICP at that time was at US$115 per barrel.
Darwin said the world is still under solid fundamentals as regards oil demand and supply.
Program Makan Siang Gratis Prabowo-Gibran Butuh 6,7 Juta Ton Beras per Tahun
Program makan siang gratis yang diusung oleh Prabowo Subianto-Gibran Rakabuming Raka diperkirakan membutuhkan 6,7 juta ton beras per tahunnya.
