Indonesia's Pertamina will not increase fuel prices on April 1
The decision was taken after considering the interests of the people
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[JAKARTA] Indonesian state energy firm Pertamina will not increase fuel prices on April 1, the country’s presidential spokesperson Prasetyo Hadi said on Tuesday (Mar 31), adding that fuel supplies remained sufficient.
Pertamina usually announces price changes at the start of every month.
President Prabowo Subianto has ordered it not to increase prices for subsidised as well as non-subsidised fuel products, Prasetyo said.
The decision was taken after considering the interests of the people, Prasetyo said, as the war in Iran raises global energy prices.
Prices of subsidised 90-octane gasoline and diesel have not changed since 2022, at 10,000 rupiah (S$0.75) and 6,800 rupiah per litre respectively.
The government has vowed to absorb the shock from soaring global crude prices by increasing its subsidy budget.
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The 2026 energy subsidies budget is 381.3 trillion rupiah. This assumed crude prices averaged US$70 a barrel and the rupiah traded at 16,500 per dollar, but crude prices are significantly higher and the rupiah is weaker than those levels.
It was unclear if the president’s directive will also apply to private retailers, such as Shell and BP.
There have been reports of lines at petrol stations in several cities across the country, with some buyers anticipating a price increase from April 1, according to local media reports. REUTERS
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