The Government Will Lower Pertalite Prices If World Oil Prices Are Like This

Illustration. (Photo: Doc. Antara)

JAKARTA - Minister of Energy and Mineral Resources (ESDM) Arifin Tasrif commented on the possibility of the government again lowering the price of Pertalite-subsidized fuel after it was raised to IDR 10,000 in 2022. This is because the current price of world crude oil has fallen to touch 70 US dollars per barrel.

Arifin said that his party would consider lowering Pertalite prices if world oil prices fell to 60 US dollars per barrel.

"If the price of oil is below 60, then (down) like before," said Arifin, quoted on Saturday, December 9.

Just so you know, before being priced at Rp. 10,000 per liter, the government set the price of Pertalite at Rp. 7,650 per liter. In addition to oil prices that have not met, he said, the price of Pertalite currently circulating in the community is still above the economy with a difference of Rp. 2000 per liter.

"Yes, there is still a difference. What is clear is that it is below 60 dollars per barrel, only (down)," concluded Arifin.

Previously, the Director General of Oil and Gas at the Ministry of Energy and Mineral Resources (ESDM) Tutuka Ariadji said this was because Pertalite's economy was still quite high from the selling price, so the price decline could not be done.

According to the calculation, the price of Pertalite is still in the range of Rp. 12,000 per liter from the current selling price which is set at Rp. 10,000 per liter.

"The economic price is still more. More than 2,000," he said when met at the Ministry of Energy and Mineral Resources Building, Wednesday, November 1.

Reporting from Bloomberg data, on Friday, December 8, the contract West Texas Intermediate (WTI) oil price in January 2024 was observed to have strengthened 1.50 percent to a level of 70.38 US dollars per barrel at 11.27 WIB. Meanwhile, Brent' benchmark oil price for the February 2024 contract was observed to have strengthened 0.51 percent or 0.38 points to the level of 74.68 US dollars per barrel.