Indonesia has revoked the price floor for unsubsidized gasoline and diesel as the government expects falling global oil prices to push down retail costs, but distributors look less likely to drastically cut prices with some already providing discounts.The Energy and Mineral Resources Ministry issued on Feb. 28 Ministerial Decree No. 62/2020 that erases a price floor for gasoline and diesel set by a previous decree, providing flexibility for distributors to reduce prices as low as possible. The new decree still maintains a price ceiling for such fuels pegged to prices in Singapore.“The government’s position is to protect the people’s purchasing power and ensure business continuity,” said the energy ministry’s acting oil and gas director general, Ego Syahrial, on Monday, “as we are facing a sudden fluctuation in crude prices.” The month in which the Energy Ministry issued the new decree saw Indonesian crude prices (ICP) fall by 13.42 percent month-to-month (mtm) to $56.61 per barrel in February because of slowed economic activity from the world’s second largest economy.Global crude oil prices fell about 30 percent on Monday last week after Saudi Arabia, the world’s largest oil exporter, slashed selling prices and planned to increase crude production next month, effectively starting a price war between oil exporting countries.While Pertamina president director Nicke Widyawati echoed government sentiment over increasing crude oil imports, a separate company representative did not immediately comment, explicitly, on plans to lower fuel prices.“Pertamina has executed and complied with the ministerial decree in question,” said Pertamina spokeswoman Fajriyah Usman on Monday.A representative from the Netherlands-based Shell Indonesia oil company also did not elaborate on plans to lower fuel prices.“Shell is committed to complying with regulations and collaborating with the government and all stakeholders over this issue,” said Shell’s vice president of external relations, Rhea Sianipar.Both companies had lowered fuel prices earlier this year after the energy ministry issued on Dec. 26 Ministerial Decree No. 187/2019 – a regulation revoked by the new decree – that tightened the minimum and maximum prices for fuel.Read also: Pertamina again lowers Pertamax prices to promote nonsubsidized fuelAfterwards, in early January in Greater Jakarta, retail fuel prices were reportedly lower at Shell and Total gas stations by up to 15.71 percent and 15.8 percent, respectively, for certain fuels.In comparison, Pertamina reduced its Pertamax and Pertamax Turbo brand gasolines by 8.7 percent to Rp 9,000 per liter and 12.1 percent to Rp 9,850 per liter, respectively.Topics : Global crude oil prices plunged this year as the COVID-19 coronavirus outbreak has hurt global demand and triggered a price war between major oil exporting countries. The international Brent oil price benchmark almost halved its value to below US$30.50 on Tuesday, from around $50.10 at the start of the year.Ego said on March 10 that the government would make the most of low global crude prices by increasing imports without swelling the country’s trade deficit. The government said it expected Indonesia’s top oil company, state-owned Pertamina, to “buy as much oil as it can”, preferably under long-term purchasing contracts, while global prices sit at a four-year low.Read also: ‘We have many tanks to fill’: Indonesia to make the most out of globally low oil pricesOil and gas imports, which reached $1.75 billion in February, up 10.7 percent from the same month last year, remained a key vulnerability for Southeast Asia’s largest economy.
Norman E. Meyer, age 75 of Batesville, died Friday, April 12, 2019 at Margaret Mary Health. Born May 6, 1943 in Batesville, he is the son of Rosemary (Nee: Bedel) and John Meyer. He served in the Army reserve and following his release he would become a tool and die maker for the Hill-Rom Company, retiring in 2007 after 45 years. He married Lucy Burkhart on May 11, 1968 at St. Mary’s Church in Greensburg. A member of St. Louis Church, he also belonged to the Batesville Knights of Columbus Council #1461 and the Batesville Athletic Boosters.Family was a priority with Norman and he loved spending time with his granddaughters, although his family indicated he was a man of few words. His other passion was all things John Deere. He farmed with his brother 54 years, just recently selling the farm. His favorite task was being in the combine during harvest.As a tool and die maker, Norman liked to tinker and fix things. The kids used to leave their broken toys next to his lunch box for him to fix. As they grew, he enjoyed watching all three of the boys play high school basketball and then later, his granddaughters. He and Lucy have traveled to all 50 states with an Alaskan cruise and a trip to Hawaii among their favorites and a cold Budweiser or screwdriver every now and then was a good thing.Norman is survived by his wife Lucy; sons Brian (Mindy), Daryl (Carol) and Alan (Lana) Meyer, all of Batesville; sisters Shirley Rennekamp of Sunman, Mary Moorman of Oldenburg, Janet Rehberger of Oldenburg; brothers John Meyer of Greensburg, Harry Meyer of Bloomington, Indiana, Greg Meyer of Hamburg and five grandchildren. In addition to his parents, he is also preceded in death by sister Laverne Goedl and brothers Gerald and Virgil Meyer Sr.Visitation is Tuesday, April 16th, from 4 – 7 p.m. at the Weigel Funeral Home. Funeral services are 10 a.m. Wednesday, April 17th at St. Louis Church with Rev. Stan Pondo officiating, followed by burial in the church cemetery. The family requests memorials to the Batesville Athletic Boosters or St. Louis School.
AC Milan striker Mario Barwuah Balotelli has ordered a new pair of climbing-irons boots,to announce his return.On one side of this new pair of Super Mario it is written “Balo is Back”, and the other side has a Superman’s logo.His club side AC Milan, only hopes his return could be a continuity of his classic performance.