REPUBLIKA.CO.ID, JAKARTA -- The government was considered to have an opportunity to reduce prices of fuel oil in the next year. Fuel prices could be lowered due to decline in world oil prices.

World crude oil prices continued to decline to the lowest position. On Wednesday (9/12) morning local time, the price of light sweet oil or West Texas Intermediate for delivery in January 2015 fell by 14 cents to 37.51 US dollars per barrel. World oil prices have not been rising as OPEC would not cut production.

"If the oil price decline continues, it should be consideration for Pertamina and the government to lower fuel prices," said analyst of Institute for Development of Economics and Finance (Indef) Heri Ahmad Firdaus, to Republika.co.id, Wednesday (9/12).

Decline in fuel prices was considered to be very helpful to stimulate the economic growth. People's purchasing power could also increase if fuel prices lowered. Even so, Heri added, the decline in world crude oil prices would cut state revenues, especially from the income tax of oil and gas.

"The government is also already lowered its target for revenues from oil and gas in the state budget 2016," he said.

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