Vivo Management's Explanation Regarding The Revvo 89 Fuel Price Increase To IDR 10,900 Per Liter

Illustration (Photo: Doc. Antara)

JAKARTA - PT Vivo Energy Indonesia to officially increase the price of BBM RON by 89 from IDR 8,900 to IDR 10,800 per liter.

According to Vivo's management, the price increase was due to Revvo 89 being an unsubsidized fuel product so price changes adjusted to the conditions of international fuel.

"The selling price is determined by the price of international fuel and local regulations regarding the maximum selling price formula", the management wrote in its official statement Tuesday, September 6.

The price change is a commercial decision to comply with market regulations and changes.

Previously, Vivo sold Revvo 89 fuel cheaper than Pertalite, which was IDR 8,900 per liter.

The government through the Ministry of Energy and Mineral Resources (ESDM) allegedly ordered Vivo to increase the price of fuel with Ron-89.

However, the Director General of Oil and Gas of the Ministry of Energy and Mineral Resources, Tutuka Ariadji, emphasized that the government would not intervene in setting prices for the type of general fuel oil (JBU), including fuel sold by PT Vivo Energy Indonesia.

Tutuka said this was by Presidential Regulation Number 191 of 2014 concerning Provision, Distribution, and Retail Selling Prices of fuel, which had been amended last by Presidential Regulation Number 117 of 2021.

According to the regulation, the government has determined three types of fuel oil (BBM) circulating in the community, namely the first is a certain type of fuel (JBT) or fuel that receives subsidies and compensation, namely kerosene and diesel.

The second type is the special type of fuel assignment (JBKP), namely fuel that does not receive subsidies but receives compensation, namely RON 90 gasoline. Finally, the type of general fuel (JBU) is fuel outside JBT and JBKP.

"Of the three types of fuel, the Minister of Energy and Mineral Resources has set a retail selling price (HJE) for certain types of fuel and special types of fuel for assignments. Meanwhile, the HJE type of fuel is generally calculated and determined by business entities", explained Tutuka in his official statement, Monday, September 5.