It Turns Out That This Is The Reason The Government Doesn't Increase Non-Subsidized Fuel Prices

JAKARTA - PT Pertamina (Persero) decided to return to holding the price of non-subsidized fuel during March 2024.

Minister of Energy and Mineral Resources (ESDM) Arifin Tasrif also asked Pertamina not to adjust the fuel price until June 2024 which was submitted to Pertamina's Deputy President Director, Wiko Migantoro.

"We are still holding back so that fuel does not increase, especially in the early semester of 2024. It is not allowed to go up, Pak Wiko, so that community activities are not disrupted," said Arifin, quoted on Saturday, March 2.

Arfin said that the step to hold back fuel prices was to stabilize the community's economy after the 2024 presidential election. Moreover, he said, rice prices are currently soaring and have become public complaints in recent times.

"We still need to stabilize the post-election conditions and it is suspected that the price of rice has increased," continued Arifin.

Previously, Pertamina Patra Niaga Corporate Secretary, Irto Ginting, in his statement said that currently Pertamina is still reviewing the price of non-subsidized fuel by looking at the trend of crude oil prices, MOPS and also the exchange rate. Moreover, continued Irto, the trend of Rupiah and MOPS exchange rates is still fluctuating.

According to him, if these two trends increase without any changes, non-subsidized fuel prices will erode the company's finances.

"If there is no adjustment to non-subsidized fuel prices, while MOPS and exchange rates increase, of course, they will correct the company's potential revenue," added Irto.

Just so you know, currently the price of Pertamax is priced at IDR 12,950 per liter, Pertamax Green 95 IDR 13,900 per liter, Pertamax Turbo IDR 14,400 per liter, Dexlite IDR 14,550 per liter, and Pertamina Dex IDR 15,100 per liter.