TEMPO.CO, Jakarta - The Energy and Mineral Resources Ministry (ESDM Ministry) asserted that the lower price of a number of the fuel which was valid per February 2019 was not related to the presidential election in April.
The Ministry’s Director General of Oil and Gas, Djoko Siswanto, delivered the statement during a press conference in light of the decreased price of fuel. “This has been calculated since last year,” said Djoko in the ministry building, Sunday, February 10.
Djoko explained that the plan to reduce fuel price was brought up since the decreasing trend of global oil price that reached US$106 per barrel last year and the strengthening of rupiah against the United States dollar.
Hence, the ministry issued a regulation No. 19 K/10/MEM/2019, which stipulates upper and lower limit prices for business entities to determine fuel prices in a bid to encourage fair business.