JAKARTA - PT Pertamina (Persero) officially lowered the price of three non-subsidized fuel oil (BBM) yesterday.
The price of fuel that has decreased is Pertamax Turbo, Dexlite, and Pertamina Dex. The average price reduction is around Rp. 2,000 per liter in each type of non-subsidized fuel.
In response to this, the Executive Energy Watch Director, Mamit Setiawan, joked that the price reduction of non-subsidized fuel prices was appropriate.
Because the government uses the Mean of Platts Singapore (MOPS) reference to determine the price of domestic fuel oil benchmarks (BBM).
For your information, MOPS is the average of a series of assessments of Singapore-based oil product prices published by Platts.
This has been regulated in the Decree of the Minister of Energy and Mineral Resources (ESDM) of the Republic of Indonesia Number: 62.K/12/Mem/2020 concerning the Basic Price Formula in Calculation of Retail Selling Types of General Oil Fuel Types of Gasoline and Solar Oil Disbursed Through Public Fuel Filling Stations and/or Fishermen's Fuel Filling Stations.
"As general fuel, the price should have followed the development of world oil prices. Some time ago, these three products experienced an increase in prices. So now when the MOPS price drops on average, it must adjust to its economy. The formulation is calculated based on the Minister of Energy and Mineral Resources 62/2020," said Mamit, Thursday, September 1.
However, Mamit assessed that the decline in non-subsidized fuel prices was just a coincidence. Because these prices follow the MOPS reference.
"I think this is just a coincidence. The moment is right where the price of world oil is falling. So for general fuel, it must be adjusted," he said.
Meanwhile, Mamit assessed that subsidized fuel would increase. The signal for price increases is already clear when President Joko Widodo begins distributing direct cash assistance (BLT) for the transfer of fuel subsidies or BLT fuel.
This means that we are just waiting for the right time to increase the price of subsidized fuel.
"Regarding subsidized fuel, I see an increase signal already exists. Just waiting for the right moment. After all, it's impossible, for example, on the same day, general fuel will go up on the other side, subsidized fuel will increase. So it will confuse the community," he said.
In addition to waiting for the moment, Mamit estimates that the official announcement process for the increase in subsidized fuel is also related to the readiness of legal instruments.
"Maybe while preparing for the revision of Presidential Regulation 191/2014 related to the criteria for subsidized fuel recipient vehicles," he said.
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