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Upstream Oil and Gas Special Regulatory Task Force Chairman Dwi Soetjipto says that the war in Ukraine has sent fuel prices to soar as Indonesia still depends on oil imports. However, on the upstream side, the crisis spurs more investments for exploration.
Once upon a time on 2015, President Joko Widodo stopped fuel subsidies. Instead of spending money that favors private car owners, the government would rather used it for more urgent needs. Many people gave two thumbs up and applauded this policy.
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