Considering People's Purchasing Power, Pertalite Prices are Stable and Pertamax Prices are Adjusted Far Below Economical Prices
Jakarta, March 31, 2022 – The ongoing geopolitical crisis has caused world oil prices to soar above USD 100 per barrel. It has also pushed the price of Indonesian crude oil or, the Indonesia Crude Price (ICP), as of March 24, 2022, to USD 114.55 per barrel. It increased by more than 56% from the December 2021, which was USD 73.36 per barrel.
In response to this condition, Pertamina through PT Pertamina Patra Niaga must maintain its commitment to providing and distributing fuel to all communities in remote areas of the country. To reduce Pertamina's financial burden, besides implementing strict efficiency in all lines of operations, it is inevitable to adjust the price of fuel oil (BBM) while still considering the socio-economic conditions of the community.
Therefore, the price adjustment was done selectively. It is only applicable to Non-Subsidized BBM consumed by the public by 17%, 14% was the total consumption of Pertamax, and 3% was the total consumption of Pertamax Turbo, Dexlite, and Pertamina Dex.
Meanwhile, subsidized fuels such as Pertalite and subsidized diesel, consumed by the majority of the Indonesian people, amounted to 83%, did not experience any price changes or were set at a stable price of IDR 7,650 per liter. This is the contribution of the Government and Pertamina in providing fuel at affordable prices.
Effective from April 1, 2022, starting at 00:00 local time, Non-Subsidized Gasoline RON 92 (Pertamax) fuel has been adjusted to IDR 12,500 per liter (for regions with 5% motor vehicle fuel tax/PBBKB), from the previous price of IDR 9,000 per liter.
"Pertamina always considers people's purchasing power. The price of Pertamax is still more competitive in the market compared to similar fuel prices from other petrol station operators. It has only been done in the last three years, since 2019," explained Acting. Corporate Secretary of PT Pertamina Patra Niaga, SH C&T of PT Pertamina (Persero), Irto Ginting.
Irto continued, this price adjustment is still far below its economic value. Previously, Agung Pribadi, the Head of the Ministry of Energy and Mineral Resources' Bureau of Communication, Public Information Services, and Cooperation, stated in a written statement that, given the higher March oil price than February, the economic price or upper limit of RON 92 general fuel in April 2022 would be even higher. It could reach IDR 14,526 per liter to around IDR 16,000 per liter.
Thus, the adjustment of Pertamax's price to IDR 12,500 per liter is still IDR 3,500 lower than its economic value. "We do this so it will not burden the community too much," said Irto.
With the new Pertamax price, Pertamina hopes that people will continue to choose higher quality Non-Subsidized Fuel. "The new price is still affordable, especially for the wealthy. We also invite people to be more efficient by using fuel as needed," stated Irto.
For further information regarding all prices for the latest Pertamina products, the public can access the Pertamina website at www.pertamina.com and or directly contact Pertamina Call Center (PCC) 135.**