JAKARTA - Minister of Finance (Menkeu) Sri Mulyani said that the uncertain global situation makes oil prices estimated to continue to fluctuate until 2023. According to the Minister of Finance, this prediction can be seen on the day when prices drop even though it is still in a fairly high trend.
"We can't know whether it will go up again or even down," he said through a virtual channel during a Bloomberg discussion, Monday, September 12.
The Minister of Finance added that this condition made the government adjust the selling price of fuel oil (BBM) in the country considering that the average level is currently still being stretched by 90 dollars to 100 dollars per barrel.
"This policy is also a step to reduce pressure on state finances (APBN)," he said.
Furthermore, the Minister of Finance said that the determining factor for oil prices is quite complex and complicated so it cannot rely solely on one instrument. He said, sometimes the policy of one country can have an impact on other countries related to these energy commodities.
"The price is still volatile and increasingly uncertain due to geopolitical," he said.
For information, the impact of the high level of world crude oil has resulted in an increase in subsidized fuel banderol in the country. It is noted that the government has raised the retail price pertalite from IDR 7,650 to IDR 10,000 per liter and diesel at IDR 5,150 to 6,800 per liter.
Just so you know, this figure actually does not reflect the existing economic value. The government claims that pertalite actually has an economic value of Rp. 13,150 per liter and solar value of Rp. 14,750. This means that there are still subsidies of Rp. 3,150 and Rp. 7,950 for each one liter pertalite and diesel received by the public.
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