A Vicious Circle
Tuesday, August 31, 2004
The world price of oil has shot up. The government's option not to raise fuel prices seems politicallyrather than economicallymotivated.
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WITH oil prices skyrocketing, the government has had to pay out higher fuel subsidies. If Megawati's government wants to make the people happy, the policy of not reducing subsidies—which means not raising fuel prices—is certain to be applauded. The people, who have had to spend their hard-earned money to pay their children's rising school fees, will heave a sigh of relief. Increasing fuel prices would be like strangling a man whose f
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