Up Thin, Biodiesel Market Index Price In August 2024 Set At IDR 12,382 Per Liter

Illustration (Photo: Doc Antara)

JAKARTA - The Directorate General of New, Renewable Energy and Energy Conservation (EBTKE) of the Ministry of Energy and Mineral Resources (ESDM) has set the Price of the Nabati Fuel Index (HIP) for Biodiesel for July 2024 at IDR 12,382 per liter.

Head of the Communication, Public Information and Cooperation Service (KLIK) Bureau of the Ministry of Energy and Mineral Resources Agus Cahyono Adi said that the HIP BBN Biodiesel is effective starting August 1, 2024, in accordance with the letter of the Director General of EBTKE number T-2832/EK.05/DJE.B/2024 dated July 28, 2024.

"HIP BBN Biodiesel in August 2024 has increased by Rp221 per liter, when compared to last July which was at Rp12,161 per liter," Agus said in Jakarta, Thursday, August 1.

Furthermore, Agus explained, the amount of the conversion of Crude Palm Oil (CPO) into biodiesel was US$85 per metric ton (MT), by calculating the HIP BBN biodiesel using the HIP = (KPB CPO Average + 85 US dollars per ton) x 870 kg / m3 + Transport Ongkos.

"The amount of transportation costs refers to the maximum amount of the cost of transporting BBN type biodiesel mixed into fuel oil (BBM) stipulated in the Decree of the Minister of Energy and Mineral Resources Number 3.K/EK.05/DJE/2024," he said.

As for the conversion of the exchange rate, added Agus, using the reference for the average middle exchange rate of Bank Indonesia for the period 25 June to 24 July 2024 amounting to Rp16,286.