In the middle of last year, Indonesia’s government slashed a huge fuel subsidy, driving local petrol prices up 44 per cent and diesel 22 per cent, putting premium fuel at 6,500 rupiah US$0.53 per litre up from 4,500 rupiah and diesel at 5,500 rupiah US$0.46 per litre from 4,500 rupiah per litre.
Then in September a tax exemption to support production of more low-cost green cars LCGCs went into effect. While...
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