Middle East Condition Heats Up, Fuel Prices Will Not Increase Until June 2024

JAKARTA - Coordinating Minister for Economic Affairs Airlangga Hartarto revealed that the price of fuel oil (BBM) will not increase until June 2024. Although, the midst of conflict between Iran and Israel is currently heating up and has the potential to increase world oil prices.

"Until June it didn't increase (the price of fuel), it was a government statement," Airlangga told reporters at his office, Tuesday, April 16.

Regarding these conditions, Airlangga emphasized that the government will continue to monitor the situation to adjust the energy subsidy budget if needed.

"We certainly monitor at what price of oil and we continue to exercise and we keep the existing resources utilized. And of course the subsidies on target are a record for the government," he said.

Airlangga said that his party would continue to monitor the development of this condition for the next 1-2 months and hoped that world oil prices would remain stable in the future.

"We see what the situation is like in 1-2 months. So if there is no escalation, we hope that the price of oil can be flatten. But if there is an escalation, it will be different," he explained.