JAKARTA - The government has set a market index price (HIP) for bioethanol type of vegetable fuel (BBN) for July 2024 of IDR 15,101 per liter.
The Ministry of Energy and Mineral Resources through the Directorate General of EBTKE has set the HIP BBN Bioethenol in July 2024 to Rp15,101 per liter. This is stated in the Letter of the Director General of EBTKE Number T-2222/EK.05/DJE.B/2024 which was signed on June 21, 2024.
"This stipulation is effective as of July 1, 2024," said Head of the Communications, Public Information Service, and Cooperation Bureau of the Ministry of Energy and Mineral Resources (ESDM) Agus Cahyono Adi, quoted Monday, July 8.
Agus said that there was an increase in the HIP BBN Bioethenol in July by Rp479 per liter when compared to the previous month, which was Rp. 14,622 per liter in June 2024.
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As for the calculation of the price of the Bioethenol BBN HIP, Agus explained, using the predetermined formula, namely (The average KPB sugar cane price is 3 months x 4,125 kg/L) + 0.25 US dollars/L.
"The average KPB sugar cane price is January 15 to June 14, 2024, which is Rp2,682 per kg. Meanwhile, the conversion of the exchange rate uses an average middle exchange rate of Bank Indonesia with a period of 15 May - 14 June 2024 of Rp. 16,159. So the price of HIP BBN Bioethenol in July 2024 is set at Rp. 15,101 per liter," he concluded.
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