Indonesia: Minister Ensures Fuel Prices Won’t Increase Until June

• Mar 25, 2017

TEMPO.CO, Jakarta – Minister of Energy and Mineral Resources Ignasius Jonan said the price of fuels controlled by the government, which are Premium and Solar, will not increase from April until June this year.

According to him, the government continues to maintain the prices and make them stable amidst the rising global oil price.

Jonan added that it’s not urgent yet to increase the prices considering that when the global oil pricr was still below US$40 per barrel last year, state-owned oil and gas company PT. Pertamina did not cut the retail prices for consumers.

“We will try not to raise the prices between April until June because Pertamina still has reserves to cover the margin when the price of crude oil rises,” Jonan said.

In the meantime, Director General of Oil and Gas of the Energy and Mineral Resources Ministry I Gusti Nyoman Wiratmadja said that Pertamina is expected to maintain the prices of fuels as they are now in order to boost the stability of the national economy.

Source: https://en.tempo.co/read/news/2017/03/25/056859535/Minister-Ensures-Fuel-Prices-Wont-Increase-Until-June