“We have already stated that subsidized fuel prices will not increase until the end of the year,” Yuliot said at the ministry’s office in Jakarta on Friday.
He emphasized that national fuel stocks remain secure and are currently above the minimum reserve threshold of 23 days, including supplies of non-subsidized fuel.
“For Pertalite, reserves are far above the minimum level, and the same applies to CN48 diesel,” he said.
To address the rupiah’s depreciation against the US dollar, Yuliot noted that the government continues to push for increased domestic oil production while also preparing refinery development projects within the country.
“We are encouraging higher domestic production, and we have also prepared domestic refinery projects,” he added.
The rupiah recently breached a new psychological level, trading in the Rp17,700–Rp17,800 range against the US dollar. This occurred despite Bank Indonesia raising its benchmark interest rate, or BI-Rate, by 50 basis points to 5.25 percent in an effort to stabilize the currency.
According to Bank Indonesia’s transaction exchange rate data accessed on Friday, the US dollar reached Rp17,877 against the rupiah.
Meanwhile, Energy and Mineral Resources Minister Bahlil Lahadalia stated that subsidized fuel prices remain secure even though the average Indonesian Crude Price (ICP) in April 2026 reached US$117.31 per barrel.
However, he noted that the average ICP since January has remained around US$80–81 per barrel, below the government’s US$100 threshold.
“Our average ICP from January until now is around US$80–81 per barrel, so it has not reached US$100,” Bahlil said.
He therefore reiterated that subsidized fuel prices are expected to remain stable through the end of 2026.
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Translator: Putu Indah, Kuntum Khaira
Editor: Primayanti
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