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Minister of Energy Speaks on Non-Subsidized Fuel Price Increase

Translator

Mahinda Arkyasa

28 June 2024 17:44 WIB

TEMPO.CO, Jakarta - Minister of Energy and Mineral Resources (ESDM) Arifin Tasrif addressed the increase in non-subsidized fuel prices, such as the Pertamax and Dex series, in July 2024. He stated that the authority to set the prices of non-subsidized fuel lies with PT Pertamina (Persero) and the Ministry of State-Owned Enterprises (BUMN).

“Yes, those are non-subsidized fuels. Any increase will also consider the purchasing power of the public,” said Arifin when met at the Directorate General of Oil and Gas (Migas) office in Jakarta on Friday, June 28, 2024, as quoted by Antara.

He also responded to questions about government approval in decisions regarding non-subsidized fuel prices. Arifin noted that Pertamina always coordinates with the Ministry of BUMN. “Pertamina is under the BUMN,” he said.

Notably, the prices of both subsidized and non-subsidized fuel have remained unchanged since the beginning of 2024.

Previously, Minister Arifin mentioned that the government had its own considerations for keeping fuel prices stable until June 2024. This was to support the economic recovery of the public following the Covid-19 pandemic.

Despite the fluctuations in global oil prices, escalating conflicts in the Middle East, and the weakening of the rupiah against the US dollar, which have increased the burden on domestic fuel subsidies and compensation, the prices have been held steady.

Arifin earlier stated that the continuation of subsidized and non-subsidized fuel prices in July would be discussed with the Minister of BUMN, Erick Thohir, and the Minister of Finance, Sri Mulyani.

As of today, Arifin revealed that no decision has been made on whether non-subsidized fuel prices will increase in July 2024. “The decision on fuel prices has not been finalized,” said Arifin.

Corporate Secretary of Pertamina Patra Niaga, Irto Ginting, previously mentioned that despite the upward trend in global oil prices and the weakening rupiah against the US dollar, they did not increase non-subsidized fuel prices in June.

Irto explained that the decision not to change fuel prices was based on several aspects outlined in the Minister of Energy and Mineral Resources Decree No. 245.K/MG.01/MEM.M/2022 regarding the formulation of non-subsidized fuel prices.

ANTARA

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