The Price Of HIP BBN Biodiesel October 2024 Is Set At IDR 12,633 Per Liter

JAKARTA - The Directorate General of New, Renewable Energy and Energy Conservation (EBTKE) has set the market index price (HIP) for biodiesel fuel (BBN) in October 2024 at IDR 12,633 per liter plus transportation costs.

"The price determination is effective as of October 1, 2024, in accordance with a letter from the Director-General of EBTKE number T-3823/EK.05/DJE.B/2024 which was signed on September 29, 2024," said Head of the Communications, Public Information Services and Cooperation of the Ministry of Energy and Mineral Resources (ESDM) Agus Cahyono Adi, Wednesday, October 2.

Agus explained that the amount of HIP BBN Biodiesel, calculated based on the provisions of the First Directorate of the Ministerial Decree (Kepmen) of Energy and Mineral Resources Number 3.K/EK.05/DJE/2024 concerning HIP BBN Type Biodiesel which is mixed into Diesel Oil Fuel and the amount of transportation costs based on the provisions of attachment I of the Ministry of Energy and Mineral Resources Number 153.K/EK.05/DJE/2024.

In more detail, the calculation of the price of HIP BBN Biodiesel obtained from the formula, HIP = (KPB CPO Average + 85 US dollars per ton) x 870 kg / m3 + Transport Cost. With the average CPO price for the period 25 August - 24 September 2024 amounting to IDR 13,211 / kg.

Meanwhile, 85 US dollars per MT, is the value of conversion of raw materials into biodiesel, and 870 kg/m3 is a unit factor from kg to L. Meanwhile, the exchange rate uses an average middle rate of Bank Indonesia with an exchange rate period of 25 August-24 September 2024 of IDR 15,408.