As a state-owned company that plays a role in managing national energy, Pertamina highly takes into account the social and economic condition of the public in setting the prices of fuel oils.Jakarta (ANTARA) - State oil and gas company PT Pertamina has assured that it will not raise the price of Pertalite gasoline despite an uptick in global crude prices due to the Russia-Ukraine conflict.
The decision to keep the gasoline price unchanged is aimed at maintaining national economic stability and the purchasing power of the people who mostly use Pertalite, it explained.
"As a state-owned company that plays a role in managing national energy, Pertamina highly takes into account the social and economic condition of the public in setting the prices of fuel oils," Pertamina Vice President for Corporate Communications Fajriyah Usman said in a written statement released in Jakarta on Wednesday
Pertamina fully supports the government's policy on national economic recovery, he added. Thus, despite the global crude price hitting a record high of US$130 per barrel, it is continuing to coordinate with the government to maintain the price of Pertalite gasoline at Rp7,650 per liter, she informed.
The price has remained unchanged in the past three years, he noted. Pertalite gasoline consumption currently makes up nearly 50 percent of the national fuel oil consumption and therefore, the government is continuing to discuss the Pertalite compensation scenario in order to keep the price stable, she said.
Pertamina is continuing to implement efficiency strategies in all business lines, including scaling down domestic fuel oil production costs, to reduce the pressure of the global crude price spiral on fuel oil provision costs, she added.
The efficiency strategies include making maximum use of domestic crude oil and optimizing the use of natural gas to retrench energy costs, Usman said.
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A price adjustment policy is also being applied selectively to non-subsidized fuel oils, such as Pertamax Series and Dex Series, whose consumption makes up nearly 15 percent of the national fuel oil consumption, she added.
The consumers of these types of fuel oils are able consumers and medium-to-upper class private car owners, he noted. Looking ahead, the prices of non-subsidized fuel oils will be routinely adjusted to the market prices, in accordance with the Energy and Mineral Resources Minister's Regulation No. 62 of 2017, she informed.
"Pertamina takes caution in setting prices. However, we believe the consumer segment has felt the benefit of quality fuel oils, which prove more economical and better for machine maintenance, so they can accept the prices which are more competitive than other similar products," she said.
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Translator: Sugiharto Purnama, Suharto
Editor: Rahmad Nasution
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