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Indonesia removes price floor for unsubsidized fuels amid global oil price war

first_imgIndonesia 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.last_img read more

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Bob Lafary, 65

first_imgRobert E. Lafary, Jr., 65, of Versailles passed away at 11:50pm, Saturday, April 29, 2017 at his home. He was born at the Margaret Mary Hospital in Batesville on October 29, 1951 the son of Robert and Donna Jo Bonfer Lafary. He was married to Kris Ford on March 24, 1990 and she survives. Other survivors include his mother Donna Jo Lafary of Versailles; one son Rob Lafary of Versailles; two daughters Amy Jo Lafary of Champaign, Illinois, and Faith Renee Lafary of Versailles; one sister Lisa (Butch) Allee of Versailles;  nephews Dustin and Dane Allee, his niece Shannon (Allee) Benham and his great-nieces Emma, Allee, Ella, and Ava. He is also survived by numerous individuals who considered him a father figure or simply referred to him as “Uncle Bobby.” Mr. Lafary was a 1969 graduate of South Ripley High School and a 1971 graduate of Northwood University. Bob spent his career as a professional musician and more specifically a professional drummer. He founded his first band the Steppin Stones as a teenager and in recent years headed the Bob Lafary Trio, playing several venues in the tri-state area. Away from music, he previously managed numerous hotels and restaurants throughout Southern Indiana, is a former employee and coach in the South Ripley Community School Corporation and was a licensed IHSAA baseball and softball umpire. Bob was an inductee of the Southeast Indiana Musicians Hall of Fame and he also attended the Versailles Baptist Church. Funeral services will be held on Thursday, May 4th at 11am at the Stratton-Karsteter Funeral Home in Versailles with Rev. Mike Cantrell officiating. Burial will be in the Cliff Hill Cemetery in Versailles. Visitation will be on Wednesday from 4pm to 8pm. Memorials may be given to the South Ripley Music Boosters to aid in their goal of purchasing new drums for the band or the Cliff Hill Cemetery in care of the funeral home.last_img read more

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Arkansas St. looks to end streak vs Little Rock

first_imgArkansas St. looks to end streak vs Little Rock February 20, 2020 Associated Press STEPPING UP: The Trojans have been led by Markquis Nowell and Ruot Monyyong. Nowell has averaged 16.7 points, 4.9 assists and 2.1 steals while Monyyong has recorded 12 points, 9.7 rebounds and two blocks per game. The Red Wolves have been anchored by Marquis Eaton and Caleb Fields. Eaton has accounted for 12.4 points while Fields has averaged 10.8 points per game.OFFENSIVE THREAT: Eaton has either made or assisted on 43 percent of all Arkansas State field goals over the last three games. The junior guard has 17 field goals and 10 assists in those games.WINLESS WHEN: Arkansas-Little Rock is 0-7 when scoring fewer than 66 points and 18-2 when scoring at least 66.COLD SPELL: Arkansas State has lost its last three home games, scoring an average of 64.3 points while giving up 73.3.DID YOU KNOW: Both Arkansas-Little Rock and Arkansas State are ranked atop the Sun Belt when it comes to getting to the foul line. The Trojans are ranked second in the conference and have averaged 22.8 free throws and 29.6 per game over their last five games. The Red Wolves are ranked first with 26 foul shots per game, including 29.2 per game against conference foes.center_img Share This StoryFacebookTwitteremailPrintLinkedinRedditArkansas-Little Rock (18-9, 12-4) vs. Arkansas State (15-13, 7-10)First National Bank Arena, Jonesboro, Arkansas; Saturday, 5 p.m. ESTBOTTOM LINE: Arkansas-Little Rock looks to extend Arkansas State’s conference losing streak to seven games. Arkansas State’s last Sun Belt win came against the Troy Trojans 78-62 on Jan. 25. Arkansas-Little Rock fell short in a 76-65 game at Texas-Arlington on Saturday. ___For more AP college basketball coverage: https://apnews.com/Collegebasketball and http://twitter.com/AP_Top25___This was generated by Automated Insights, http://www.automatedinsights.com/ap, using data from STATS LLC, https://www.stats.comlast_img read more

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Angels’ JC Ramirez picks up where he left off in 2018 debut

first_img After injury-marred season, Angels starters focus on flexibility SCOTTSDALE, Ariz. — If the purpose of JC Ramirez’s first competitive inning since last August was to pick up where he left off in 2017, consider Thursday a success.Ramirez mowed down a stout San Francisco Giants lineup, including newcomers Andrew McCutchen and Evan Longoria, in his return from an elbow injury that ended his breakout season.“I feel like I’m back,” Ramirez declared after a scoreless debut.The purpose of his second inning was to take the next step in his quest to crack the Angels’ starting rotation. Ramirez struck out Giants catcher Nick Hundley on a curveball in the dirt, a pitch he barely used against right-handed hitters last season. He retired the next two batters he faced in the inning, and six of seven overall, while throwing 28 pitches.A reliever throughout his major league career, Ramirez quickly established himself last year as the Angels’ most reliable starting pitcher. He went 11-10 with a 4.15 earned-run average before he was diagnosed with a partially torn ulnar collateral ligament and missed the final six weeks of the season. The 29-year-old right-hander underwent stem-cell therapy last September in hopes of avoiding major surgery. So far, the treatment has proven effective.To avoid any hesitation letting loose, Ramirez pitched two live batting practice sessions to teammates before making his Cactus League debut.“I didn’t stick back anything. I threw what I have,” he said.Ramirez’s quest is similar to that of teammate Garrett Richards, who underwent stem-cell therapy for a similar injury one year earlier. Richards was off to a promising start last season before an irritated nerve in his right biceps curtailed his progress. Shohei Ohtani fans should be patient, Hasegawa says Shohei Ohtani is making fantasy baseball leagues face difficult choices Ramirez said he has leaned on Richards for advice early in camp.“He gives me a lot of advice: don’t baby my arm, throw my normal way,” Ramirez said. “Whatever you have to do, keep doing the same thing you had to do in the past.”Now, Ramirez and Richards are among eight pitchers eyeing six spots in the Angels’ starting rotation.Richards, Shohei Ohtani, Andrew Heaney, Tyler Skaggs and Matt Shoemaker are the favored five. Right-handers Parker Bridwell and Nick Tropeano, who also pitched two scoreless innings against the Giants, can make the competition more interesting with a strong spring training.Ramirez is out of minor-league options and his track record as a reliever makes him a candidate to shift to the bullpen if needed, but Manager Mike Scioscia isn’t focused on that option.“We look for him to be in our rotation right now,” Scioscia said. “We’re going to take everything one week at a time.”OHTANI UPDATEOhtani has not taken any competitive at-bats the day before either of his first two Cactus League pitching appearances. This is one facet of the Angels’ plan to ease Ohtani into the rhythm of his first spring training in the United States.That plan, however, might cease once the regular season begins.Related Articles Angels ride late outbursts to 11-4 victory over Giants “We’re going to look very closely at it,” Scioscia said. “There’s a lot of effort a pitcher puts into pitching. Obviously it might erode some of the opportunities he has to hit. We’re going to be flexible with everything we do.“If it comes down to where he’s pitching on a day, and he’s not going to hit the day before, so be it. If he’s a day after he’s not available to pinch hit, so be it. We need to be flexible as we go through it, to work it out.”Ohtani will pitch against the Milwaukee Brewers on Friday in Maryvale.ALSOSo-called “B games,” like the one Ohtani will pitch in Friday, are rarely the domain of veterans and 40-man roster players. Yet since Ohtani is on the mound, 34-year-old catcher Rene Rivera will be behind the plate. … As it is a “B game,” Ohtani’s pitching statistics will not count toward his official spring training ledger. … The Angels’ minor league pitchers and catchers are scheduled to report Saturday. Newsroom GuidelinesNews TipsContact UsReport an Errorlast_img read more

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