Trade Minister Claims Oil Prices Have Started To Drop, But Still At IDR 17,000

JAKARTA - The Minister of Trade (Mendag) Budi Santoso claims that the price of simple packaged cooking oil with the Oilita trademark has begun to fall.

He said the national average price of Oilita was already at Rp. 17,000 per liter.

Previously, Budi said the price of Oilita at the moment of Christmas 2024 and New Year 2025 (Nataru) reached Rp. 17,200 per liter. The Highest Retail Price (HET) for Oilita is Rp. 15,700 per liter.

"Now the price has started to fall, the average price is IDR 17,000 per liter. But what is clear is that when in Surabaya it was even IDR 15,500 in the market we saw. The HET was only IDR 15,700, it was in the Sedati market in Surabaya," he said when met at the Ministry of Trade office, Jakarta, Friday, January 10.

Budi admitted that he had held a meeting with the Oilita distributor. The meeting also discussed the cause of the increase in the price of Oilita in the market.

Furthermore, Budi said the cause of the increase in the price of Oilita was because the distribution had not run smoothly after the 2024 Christmas and 2025 New Year (Nataru) holidays.

"So yesterday there was confirmation from the suppliers that the supply was in accordance with the rules, yes, from producer D1, D2. So yesterday it was true because maybe the holidays were not well distributed. Because some holidays are up to the 6th. Now prices have started to normal, "he explained.

Previously reported, Trade Minister Budi Santoso said prices in East Java were relatively stable.

However, he admitted that there was indeed an increase in the price of curly red chilies at a price of Rp48,100 per kg.

This was conveyed by Budi after visiting the Customs Sedati Tourism Market in Sidoarjo, East Java, today, Wednesday, January 8.

Even so, Budi said the price was still lower than the national price, which was Rp. 51,000 per kg and the reference price was Rp. 55,000 per kg.

Through the moment of Christmas 2024 and New Year 2025 (Nataru), the national bapok price, including in East Java, is still relatively stable. The government continues to be committed to ensuring that the bapok price is stable and affordable for the community. Moreover, soon we will enter the fasting month," he said.

Based on today's monitoring, the prices of bapok commodities sold are below or equal to the highest retail price (HET) and the reference prices are medium rice at Rp12,500 per kg, rice Stableized Supply and Food Price (SPHP) Bulog Rp12,500 per kg, Oilita Rp15,500 per liter, beef Rp115,000 per kg, and chicken meat Rp38,000 per kg.

Then, chicken eggs are Rp. 27,000 per kg, shallots Rp. 35,000 per kg, curly red chilies Rp. 55,000 per kg, and garlic is Rp. 37,000 per kg.

Meanwhile, premium rice was recorded at Rp. 14,500 per kg, sugar was Rp. 18,500 per kg, and garlic cat was Rp. 40,000 per kg.

Other commodities were also observed, namely bulk cooking oil at a price of Rp. 19,500 per liter, premium packaged cooking oil Rp. 20,000 per liter, and wheat flour Rp. 12,000 per kg. Red cayenne pepper was observed in the range of Rp. 85,000 per kg.