Pertamina Speaks About Fuel Prices Amid Global Oil Price Hike
11 March 2022 14:25 WIB
TEMPO.CO, Jakarta - The Indonesian government and state-energy firm Pertamina assures that the price of Pertalite fuel - one of Pertamina’s more affordable fuel varieties - will not be increased to help preserve the public’s buying power.
Pertamina VP corporate communication Fajriyah Usman said the company as an SOE considers the socio-economic condition of the people in determining the prices of its fuel. As of now, Pertalite fuel will continue to be sold at Rp7,650 per liter.
“We entirely support the government’s policy in recovering the national economy despite world oil prices reaching $130 per barrel,” said the spokesperson in a press statement on March 11.
Pertalite has been consistently sold for the same price in the past three years and currently contributes to 50 percent of the national fuel purchase.
Pertamina also plans to conduct efficiencies across multiple sectors within the company in light of the current condition, which includes suppressing domestic fuel production costs. The use of domestic crude oil products will also be optimized for energy cost savings.
The Ministry of Finance’s Director General of Budget Isa Rachmatarwata said global risks are escalating due to the Russia-Ukraine conflict and ultimately affecting the price of commodities in the energy sector such as crude oil, coal, and gas.
"The increase in world crude oil prices will certainly have an impact on the state budget," he said.