ICP TUMBLES AS WORLD CRUDE PRICES FALL

by Andi Abdussalam

Jakarta, Dec 15 (Antara) - The Indonesian crude price (ICP) slid down in the world market as global oil prices continued to fall over the past several months.          Since the falling oil prices and the ICP sliding in the world market are factors that affect the domestic fuel prices in the country, the government is considering lowering the fuel oil price at home.          Actually, the fall in domestic oil price will be good and positive for the country's economy.          "We hope the fuel oil prices will go down in January. If these are lowered, the country's economy will improve,"  Gusti Nyoman Wiratmadja Puja,  the director general of natural oil and gas of the Ministry of Energy and Mineral Resources, said after attending "Pertamina Refining Day 2015" function on Tuesday (Dec 15).          He said with the fall in the world oil prices, the government will lower the price of fuel oil in the country next month.          The team of the Energy and Mineral Resources Ministry (ESDM) has recorded that the average Indonesian crude price or the ICP in November 2015 fell by US$2.24 per barrel, compared to the October level.          According to the ESDM statement made available to Antara last week, the Indonesian crude price in the world slid from US$43.68 per barrel in October to US$41.44 per barrel in November 2015.