Fuel prices in Indonesia may reach Rp20,000 per liter amid global oil surge

Non-subsidized fuel prices in Indonesia, including Pertamax and Pertamina Dex, are projected to potentially reach Rp20,000 per liter due to rising global crude oil prices. Eko Ricky Susanto, Retail Marketing Director of PT Pertamina Patra Niaga, stated that there are currently no indications that global oil prices will decrease in the near future.

Global crude oil benchmarks, including Brent and West Texas Intermediate (WTI), have surpassed the US$100 per barrel threshold. This surge is largely attributed to geopolitical tensions in the Middle East, specifically the potential for disruptions in the Strait of Hormuz, which serves as a critical artery for global oil supply. Experts note that the current energy crisis may have a more significant global impact than the Russia-Ukraine conflict due to these strategic supply routes.

Despite the volatility in international markets, the Indonesian government, through Minister of Energy and Mineral Resources Bahlil Lahadalia, has decided to maintain current subsidized fuel prices, such as Pertalite and Biosolar, to protect the public. Meanwhile, non-subsidized products like Pertamax Green 95 and Pertamax Turbo have already seen price adjustments in early September.