Indonesia considering hiking fuel prices as much as 40%, lawmakers say
Southeast Asia's largest economy has already tripled its 2022 energy subsidy allocation from its original budget to 502 trillion rupiah amid rising global oil prices and a depreciating rupiah.
Petrol prices hit new record in US
The record-high prices are upsetting Americans, as they come on top of a general 8.5% price increase compared to March 2021.
Behind the ups and downs of fuel prices
The cost of crude oil, supply, demand and competition as well as supply disruptions all play a role in determining the price of petrol.
