Indonesia is raising fuel prices up to 44 percent despite angry protests calling on the government to maintain subsidies that have kept pump prices low for years.

Mines and Energy Minister Jero Wacik said Friday the new prices would take effect after midnight. The increase will raise the price of gasoline from around 45 cents to 65 cents per liter and diesel fuel from 45 cents to 55 cents.

The long-delayed hike was decided after the parliament laid the groundwork Monday, approving a revised budget that includes more than $900 million in cash handouts, meant to cushion the spike's impact on 15.5 million poor families over four months.

Thousands of students took to the streets across the country in past days protesting the planned increase.