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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.
RelatedPosts Lampard: I still have confidence in Tomori Pirlo not out to copy anyone after Juventus’ comfortable opening win Mane double eases Liverpool to win over 10-man Chelsea Liverpool vs. Everton Venue:Anfield Stadium Kick off: 5:01PMLiverpool will look to replicate their astonishing Premier League form in the FA Cup when they meet local rivals Everton in the third round this afternoon. Jurgen Klopp’s men are cruising at the top of the table, while the Toffees are enjoying a resurgence of form under new boss Carlo Ancelotti. Thursday’s 2-0 victory over Sheffield United handed Liverpool the incredible record of going a full calendar year without losing a game in the Premier League. The result leaves the Merseyside club 13 points ahead of closest challengers Leicester City with a game in hand, leading many to believe that the title is already destined for Anfield. However, while Liverpool’s resurgence in the league and in Europe has been remarkable, such success has not replicated itself in the FA Cup during the Klopp era. Since the 2015-16 campaign, Liverpool have not gone beyond the fourth round, exiting the competition at that stage on three occasions and losing to Wolverhampton Wanderers in the third round last term. Having not won the accolade since 2006, supporters will hope that their team places greater emphasis on going deeper in this competition – starting with a tantalising meeting with their biggest rivals under the lights today. For Everton, it was their last visit to Anfield in December – a 5-2 defeat – that put the nail in the coffin for former manager Marco Silva, who was sacked soon after. Since then, however, the Toffees have discovered a sense of rhythm that seemed to elude Silva and his players from the moment the 2019-20 campaign kicked off. Following a galvanising victory over Chelsea under caretaker boss Darren Ferguson, the club secured the services of Champions League winner Ancelotti in what must be viewed as a masterful piece of recruitment. The Italian has exerted an immediate impact, recording a pair of dominant victories over Burnley and Newcastle United ahead of performing impressively during a 2-1 defeat to Manchester City at the Etihad. Indeed, Ancelotti will point to the organisation and energy of that performance as a blueprint for how Everton must negotiate the trip to Anfield this weekend. Liverpool possible XI: Adrian, Hoever, Van Dijk, Gomez, Robertson, Henderson, Wijnaldum, Lallana, Salah, Firmino, Elliot. Everton possible XI: Pickford, Sidibe, Holgate, Keane, Digne, Davies, Sigurdsson, Walcott, Richarlison, Calvert-Lewin, Kean.Tags: Carlo AncelottiFA CupJurgen KloppLiverpool
Photo courtesy Sports InformationSuspended sophomore inside linebacker Osa Masina is under two investigations for separate alleged sexual assault incidents, according to police.Cottonwood Heights police in Utah confirmed to FOX 13 on Tuesday that Masina is being investigated for an alleged sexual assault that took place this summer in Salt Lake County, though no charges were filed.According to the report, the Los Angeles Police Department assisted the Cottonwood Heights Police Department in serving a search warrant at a practice facility at USC last week.In a statement, a USC spokesperson said the school was aware of the investigation involving Masina.“USC is cooperating fully with authorities in Utah, the lead agency in the investigation,” the statement read. “Due to privacy laws and to protect the rights of our students, we are not able to discuss this matter further.”Police Sgt. Dan Bartlett told ESPN that the Los Angeles Police Department also has an active investigation into Masina for an incident which he said occurred before the one in Utah. Masina’s attorney, Greg Skordas, confirmed to ESPN that there are two ongoing investigations.On Monday, head coach Clay Helton announced in his weekly Trojans Live appearance that Masina will not travel with the football team to Arlington, Texas, for the season’s first game against Alabama on Saturday,Helton said Masina violated team rules, but did not disclose any details. He did speak on the matter following practice on Tuesday, deferring to the University.“Really as a coach you’re taken out of it,” he said. “This is a university matter and a university policy and I’m confident in the guidance of the university here. They’ll let me know.”Redshirt junior Max Browne, recently named the starting quarterback, said the incident was “tough.”“At the end of the day we’ve had some distractions in the past and I’ll leave that to Coach Helton to address,” he said.Masina, a 6-foot-4, 230-pound sophomore, is listed as a backup inside linebacker on the depth chart behind senior Michael Hutchings.A five-star recruit out of high school, Masina was a backup inside linebacker his freshman year, appearing in 12 games. He made 25 tackles and a fumble recovery that he returned for a touchdown.Masina will join sophomore cornerback Isaiah Langley as the two USC players suspended for the first game. Langley was suspended following an arrest in May at a UCLA fraternity party.The last USC football player to be accused of sexual assault was Bryce Dixon, who was expelled in May of last year but later allowed to re-enroll in school after a judge stayed the expulsion, though Dixon was not allowed to re-join the team.At least one teammate expressed sympathy for Masina.“You know, he’s my brother and I’m going to support him,” said sophomore running back Ronald Jones II.This article was updated at 8:32 p.m.