Oil prices shot up

Jakarta - The effects of a prolonged crisis in the Middle East, oil prices continue to rise. Oil prices in Asian trade on Monday (7 / 3) by U.S. $ 106 per barrel. Last weekend to reach above the US115 per barrel for the month of April in New York trading. Compared with the oil price assumption of the national budget amounted to US80 per barrel, world oil prices will cost melonjakan grant. Jump in oil prices is the concern of President Susilo Bambang Yudhoyono. After an internal meeting at the Presidential Palace, Jakarta, Monday (7 / 3), Coordinating Minister Hatta Radjasa said the President asked wary of rising world crude oil prices, which can affect the rising prices of other commodities. "We were asked to actually control domestic inflation, to maintain price stability. That we should do," he said. For world crude oil price increase will not be charged to the budget in the state budget subsidies, Hatta said the Indonesian oil production should be increased to reduce imports. If world oil prices higher, Hatta said the government in the second half will speak to the House for the possibility of adding fuel subsidies in the budget to discuss. The rise in world oil prices to the price of fuel oil (BBM), non-subsidized Pertamax increased. Many users switch to premium Pertamax. Evidence, subsidized fuel in February this year exceeds the quota allocated. Head of BPH Migas, Tubagus Haryono presents premium distribution of 1.7 million kl. But in fact, consumption 1.8 million kl. Solar allocated 940 000 kiloliters, about 1 million kl of use. Finance Minister Agustin Martowardojo hope subsidized fuel quota of 38.5 million kl is not that over allocation of sufficient funds in the 2011 budget. "We have a study, although high oil prices, the deficit is expected to remain below two percent," she said before meeting with businessmen in Batam on Monday. Some time ago, in front of Parliament, the Minister stated in fuel subsidies this year will grow RP3-six trillion if restrictions on subsidized fuel back late from the original plan, April 1. Limits the use of subsidized fuel is now discussed. The results of academic studies of three state universities, namely UGM, ITB and UI proposed three options. Economist University of Gadjah Mada (UGM) Anggito Abimanyu said the first option, to increase subsidized fuel prices by 500 and applies to all types of vehicles. Second, set the upper limit pertamax price. The upper limit pertamax the most probable price is Rp 8000. "The price is based on a survey of the purchasing power of users pertamax now," said Anggito who also became chairman of the assessment team. The third is a reduction in consumption of the premium using the operating system. "That applies not only to transport but also for the engine with the given type of rationing," said Anggito from the coordinating Ministry of Economic Affairs, Jakarta, Monday (7 / 3). Analysts say that the oil price assumption in the budget should be replaced immediately. Pri Agung Rakhmanto, Executive Director ReforMiner Institute in Jakarta, Monday (7 / 3) suggested that at least the oil price assumption of U.S. $ 90 per barrel. "The assumption of U.S. $ 90 is ideal. If changed to reach U.S. $ 100 was not healthy. So if the oil price jumped so high I can not help the government raise fuel prices. Fuel price could rise to 10 percent of about 500-1000, "he said. Although this increase could be felt for Pertamax with a price above the Rp8.000 per liter. Pri Agung Libya did not immediately predict the crisis ended, could spread to Saudi Arabia and Iran. If terjadiharga oil could rise to $ 130 per barrel. If an oil-producing countries Saudi Arabia produces eight million barrels per day, while Iran four million per day. Oil observer Kurtubi said Indonesia should not be affected too much due to the increase in world crude oil prices if domestic oil production target of 970 thousand barrels per day are met. "At this time the production reached only 908 barrels per day, far from the target. In fact, if met, we also benefit from the sale, because world oil prices rise," he said. Kurtubi predict oil prices will rise to U.S. $ 140 to reach the war in Libya is not a quick end. "Now demonstration appears in Oman, Bahrain, Saudi Arabia as well as the oil price could reach U.S. $ 200 per barrel," he said. Managing Director of Commodity Broking Services in Sydney, Jonathan Barratt, said the rise in oil prices also triggered by profit taking by investors in the stock market. "The trigger is a condition in Libya, which led to fears in the market. Every time there was a slight increase, as investors were forced to take stock, to execute transactions. Every time they benefit from the price of oil will continue to rise,