JAKARTA: Energy and Mineral Resources Minister Bahlil Lahadalia warns prices of non-subsidised fuels could rise again as global oil prices remain volatile.
He said the government had the authority to stabilise subsidised fuel prices, while non-subsidised fuels follow market movements and are adjusted gradually.
“If global oil prices fall, then Pertamax prices won’t go up. But if prices keep rising like this, then adjustments are very likely,” Bahlil told reporters on Monday, referring to state-owned RON-92 Pertamax petrol brand.
He also pointed out that the Indonesia Crude Price (ICP) as a key benchmark for domestic fuel prices, with swings directly feeding into non-subsidised fuel prices.
The ICP averaged US$102.26 per barrel in March 2026, up by US$33.47 per barrel from February – nearly 49%, according to the energy ministry.
On April 18, state-owned energy firm Pertamina increased prices for three non-subsidised products: RON-98 Pertamax Turbo, Dexlite and Pertamina Dex.
According to Pertamina’s website, the price of Pertamax Turbo petrol in Jakarta was raised to 19,400 rupiah per litre, a steep 48% increase from 13,100 rupiah.
Diesel variants saw even sharper adjustments, with Dexlite climbing 66% from 14,200 rupiah to 23,600 rupiah per litre and Pertamina Dex rising 65% from 14,500 rupiah to 23,900 rupiah.
At the same time, Pertamina also hiked non-subsidised liquefied petroleum gas (LPG) prices for the first time since 2023.
The 5.5 kg cylinder rose 18.9% to 107,000 rupiah, while the 12 kg cylinder increased 18.8% to 228,000 rupiah.
Meanwhile, Pertamina confirmed that Pertamax and its cleaner version, Pertamax Green, remain unchanged at 12,300 rupiah and 12,900 rupiah per litre, respectively, while subsidised fuels Pertalite and Biosolar are also being maintained at 10,000 rupiah and 6,800 rupiah per litre, respectively.
Indonesia joins a growing number of countries adjusting domestic fuel prices in response to soaring global oil markets.
Crude oil prices fell to around US$96 a barrel on Tuesday, reversing gains in the previous session.
The decline came on expectations that the United States and Iran could hold peace talks later this week, potentially easing tensions and allowing more oil supply to flow from the key Middle East producing region.
Prices had surged earlier after the closure of the Strait of Hormuz, a key global shipping route, amid the now seven-week-long US-Israel war on Iran. The disruption raised concerns over supply, as the waterway is a critical transit point for global crude flows.
Shipping activity through the Strait of Hormuz, through which roughly one-fifth of the world’s oil supply passes, remained limited, underscoring ongoing risks to supply.
Pertamina’s shipping and logistics arm, PT Pertamina International Shipping (PIS), has confirmed that two of its vessels, the Pertamina Pride and Gamsunoro, are still stuck in the Arabian Gulf, unable to transit the Strait of Hormuz following Iran’s renewed closure of the waterway.
PIS acting corporate secretary Vega Pita said on Sunday that the company was closely monitoring the “highly dynamic situation” in the critical maritime chokepoint. — The Jakarta Post/ANN
