The Minister Of SOEs Explains The Reason Pertamina Maintains Non-Subsidized Fuel Prices

The prices of all types of fuel did not increase (Instagram/@pertamina).

JAKARTA - PT Pertamina (Persero) ensures that the price of fuel oil (BBM) for all types of general or non-subsidized fuel does not increase amid the upward trend in world crude oil prices and exchange rates as of February 2024.

Based on the provisions of the Minister of Energy and Mineral Resources Decree No.245.K/MG.01/MEM.M/2022 as a change to Kepmen No. 62/K/12/MEM/2020 concerning the Formulation of Non-Subsidized JBU Prices or BBM, as of February 1, 2024, downstream oil and gas operators have adjusted fuel prices at gas stations. However, specifically, the price of fuel at Pertamina gas stations has not increased or is still the same as the January 2024 period.

The Minister of SOEs, Erick Thohir, said that the Government supports Pertamina's decision not to increase the price of Non-Subsidized Fuel, even though prices at other competing gas stations have increased.

"Pertamina's decision not to increase fuel prices is certainly good for maintaining people's stability and purchasing power. This is where the role of SOEs is for the community. Pertamina has also made efficiency in its business process so that it can produce fuel at the best price," said Erick on Saturday, February 3, 2024.

President Director of PT Pertamina (Persero), Nicke Widyawati, explained that Pertamina is serious about implementing efficiency with integrated digitization in all business processes from upstream to downstream. The impact is the efficiency of production costs so that it can provide the best prices for the community.

"With this digitization that can change model operating or how to work, in the end it can create value in the form of cost optimization. So, Pertamina can produce and provide fuel at the best price to the community," said Nicke.

Nicke added that the price of Non-Subsidized Fuel types is fluctuating following the components of determining prices, including crude oil prices and exchange rates, including the socio-economic condition of the community.

"The price of fuel at Pertamina gas stations is more competitive. As SOEs, in determining the price of Non-Subsidized Fuel, we still consider many aspects, including people's purchasing power," concluded Nicke.