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Fuel Price Drops Below US$40 per Barrel

31 August 2015 10:28 WIB

Nozle (tuas) bahan bakar minyak jenis PERTALITE ditandai warna putih disebuah SPBU di Yogyakarta, 14 Agustus 2015. Di Yogyakarta baru terdapat tiga SPBU yang menjual bahan bakar Pertalite. TEMPO/Pius Erlangga

TEMPO.CO, Jakarta - Global economy has dragged fuel price to drop below US$40 per barrel. However, the government plans to not lower subsidized fuel price this September.

“Indeed the current price is slightly more expensive than the ideal economic price,” said Energy and Mineral Resources, Sudirman Said, on Sunday August 30. He claimed that the price gap will be used to cover government debt to Pertamina.

Earlier this month, Pertamina CEO Dwi Soetjipto claimed that the corporate has lost US$1 billion of potential profit due to the new fuel price. Therefore, the government needs to cover the deficit by maintaining the current fuel price amid global situation.

US crude oil bar of West Texas Intermediate (WTI) for October delivery has dropped 87 cents to US$40.45 per barrel in the New York Mercantile Exchange on Friday. WTI had even dropped to below US$40 per barrel since February 2009, reaching US$39.86.

URSULA FLORENE SONIA | TRI ARTINING PUTRI




BPS Reports January Exports for Coal 'Sluggish' at US$2.41 billion

41 hari lalu

BPS Reports January Exports for Coal 'Sluggish' at US$2.41 billion

BPS reported that the January exports for coal were sluggish in Indonesia.


January Export Drops 8.34% at US$20.52 billion, BPS Reports

42 hari lalu

January Export Drops 8.34% at US$20.52 billion, BPS Reports

BPS recorded the January export value of Indonesia at US$20.52 billion, an 8.34 percent decline compared to December.


Jokowi Asks Tanzanian President to Open Negotiations on LNG, Fertilizer Investment

25 Januari 2024

Jokowi Asks Tanzanian President to Open Negotiations on LNG, Fertilizer Investment

Indonesian President Jokowi highlights investment cooperation in the oil and gas sector during a meeting with Tanzanian President Samia Suluhu today.


Import Value Shows Steady Decline in Latter Half of 2023, BPS Says

15 Januari 2024

Import Value Shows Steady Decline in Latter Half of 2023, BPS Says

BPS recorded that the value of imports in December 2023 reached US$19.11 billion, a 2.45 percent decline compared to the previous month.


BPH Migas Predicts Gasoline, Plane Fuel Distribution to Rise in Holiday Seasons

16 Desember 2023

BPH Migas Predicts Gasoline, Plane Fuel Distribution to Rise in Holiday Seasons

BPH Migas predicts that the distribution of gas oil and jet fuel will increase during the Christmas and New Year periods.


Indonesia, South Korea Explore Partnership on Carbon Capture Development

29 November 2023

Indonesia, South Korea Explore Partnership on Carbon Capture Development

Indonesia is exploring a partnership with South Korea to develop carbon capture and storage/carbon capture, utilization, and storage technology.


Indonesia's Trade Surplus Surpasses US$3.42 billion

17 Oktober 2023

Indonesia's Trade Surplus Surpasses US$3.42 billion

According to Statistics Indonesia, the balance of trade surplus in Indonesia continues to September 2023, surpassing US$3.42 billion.


Pertamina Expands to Africa's Upstream-Downstream Oil & Gas Industry

29 September 2023

Pertamina Expands to Africa's Upstream-Downstream Oil & Gas Industry

PT Pertamina inked an agreement yesterday in Jakarta with Guma Africa Group Limited.


Pertamina Subholding Increases Production, Improves Business Development

29 Juli 2023

Pertamina Subholding Increases Production, Improves Business Development

Pertamina upstream sub-holding, PT Pertamina Hulu Energi (PHE), continues to improve the unlock value activities.


SKK Migas Sets 2023 Investment Target at US$15.5bn

21 Juli 2023

SKK Migas Sets 2023 Investment Target at US$15.5bn

The Upstream Oil and Gas Activities Special Task Force (SKK Migas) is targeting to achieve US$15.5 billion in actualized investments by 2023's end.