Ministry Of Energy And Mineral Resources Affirms Pertalite And Solar Prices Will Not Increase In July 2024

Illustration. (Photo: Doc. Antara)

JAKARTA - The Ministry of Energy and Mineral Resources (ESDM) emphasized that the price of subsidized fuel oil (BBM), namely Pertalite and Solar, will not increase in July 2024.

"The Pertalite that JBKP (Special Assignment Type) has not been adjusted, such as Solar. If Pertamax Cs is possible," said Head of the Communications, Public Information Services, and Cooperation of the Ministry of Energy and Mineral Resources Agus Cahyono Adi in his statement, quoted from Antara, Sunday 30 June.

However, Agus said that until now the price of non-subsidized fuel, namely Pertamax series and Dex series, has not been confirmed whether there will be adjustments or permanent.

"Until now it has not been adjusted, if the general non-subsidized fuel (Pertamax series and Dex series) is determined by business entities, along the range of the formulation price," he said.

Agus also said that so far the price of Indonesian Crude Oil Price (ICP) tends to stagnate.

Although, Agus admitted, there is still a heavy burden coming from the United States (US) dollar exchange rate against the rupiah.

"The price of ICP oil is still stagnant, but the heavy exchange rate is," he said.

The US Dollar exchange rate based on the middle exchange rate of Bank Indonesia (BI) until June 27, 2024 is at the level of Rp. 16,324. Meanwhile, for the ICP until June 27, 2024, it is at the level of 79.12 US dollars per barrel.

When contacted by ANTARA on Friday, June 28, PT Pertamina Patra Niaga Corporate Secretary Irto Ginting said that currently Pertamina is reviewing the possibility of adjusting the price of non-subsidized fuel for July 2024.

"This is what we are reviewing," said Irto.

The government has been holding back the increase in fuel prices, both subsidies and non-subsidized, since early 2024.

Minister of Energy and Mineral Resources Arifin Tasrif on the previous occasion expressed the government's consideration of holding fuel prices to remain stable until June 2024, namely to support the economic recovery of the community after the COVID-19 pandemic.

The turmoil in world oil prices, the escalation of conflicts in the Middle East, and the weakening of the rupiah exchange rate against the US dollar have made compensation and the domestic fuel subsidy budget swell.

Arifin also said that regarding the continuation of subsidized and non-subsidized fuel prices in July, it would be discussed with SOE Minister Erick Thohir and Finance Minister Sri Mulyani.

However, as of Friday (28/6), Arifin revealed, there has been no decision on whether the price of non-subsidized fuel will increase in July 2024.