Government holds subsidized fuel and LPG prices amid oil swings
Bahlil said national stocks of fuel, crude and LPG remain above minimum standards even as global oil prices keep moving.
The government decided not to raise subsidized fuel and LPG prices amid fluctuations in global oil prices caused by geopolitical uncertainty in the Middle East. Energy and Mineral Resources Minister Bahlil Lahadalia conveyed the decision after a limited meeting with President Prabowo Subianto at the Presidential Palace Complex in Jakarta on Tuesday. He also said national energy stocks remain secure, with reserves of fuel, crude and LPG above minimum standards. At present, Pertalite remains around Rp10.000 per liter, while biosolar stays at Rp6.800 per liter. In global markets, oil has at times moved from the US$70 range to above US$100 per barrel this year, before Brent was quoted at US$87,86 per barrel and WTI at US$81,97 per barrel on Tuesday morning.