Up, HIP BBN Biodiesel December 2024 Pegged At IDR 14,389 Per Liter

Illustration. (Photo: Doc. Antara)

JAKARTA - The Ministry of Energy and Mineral Resources (ESDM) through the Directorate General of New, Renewable Energy and Energy Conservation (Ditjen EBTKE) has set the Price of the Nabati Fuel Index (BBN) for the month of December 2024 at IDR 14,389 per liter plus transportation costs.

Plt. Head of the Communication, Public Information Service and Cooperation Bureau of the Ministry of Energy and Mineral Resources, Chrisnawan Anditya, revealed that the pricing was effective as of December 1, 2024, in accordance with the letter of the Director General of EBTKE number T-4688/EK.05/DJE.B/2024 which was signed on November 28, 2024.

"The price of biodiesel in December increased by Rp1,005 per liter, when compared to November which was at Rp13,384 per liter," he said, Wednesday, December 11.

The HIP amount of Biodiesel type BBN is determined based on the provisions of the First Diktum of the Ministerial Decree (Kepmen) of Energy and Mineral Resources Number 3.K/EK.05/DJE/2024 concerning the Price of the Biodiesel type BBN Market Index which is mixed into Solar Oil Fuel and the amount of transportation costs based on the provisions of attachment I of the Ministry of Energy and Mineral Resources Number 153.K/EK.05/DJE/2024.

In more detail, the calculation of the price of HIP BBN Biodiesel obtained from the formula, HIP = (KPB CPO Average + 85 US dollars per ton) x 870 kg / m3 + Transport Cost. With the average CPO price for the period 25 October - 24 November 2024 amounting to IDR 15,199 / kg.

Meanwhile, 85 US dollars per MT, is the value of conversion of raw materials into biodiesel, and 870 kg/m3 is a unit factor from kg to L. Meanwhile, the exchange rate uses an average middle rate of Bank Indonesia with an exchange rate period of 25 October - 24 November 2024 of IDR 15,768.