Despite an expected increase in prices of staple goods in Indonesia due to the rupiah’s current slide against the US dollar, state-owned oil and gas company PT Pertamina says there’s no need to worry about rising fuel prices for now.
“Pertamina fuel prices will remain the same and there are no plans for any price adjustments,” Pertamina VP of Corporate Communications Adiatma Sardjito said in an official statement yesterday.
Adiatma added that Pertamina is closely monitoring the rupiah’s condition to determine future price policies. However, by law, any adjustment in fuel prices must be approved by the government.
Energy and Mineral Resources Minister Ignasius Jonan also allayed worries about rising fuel prices.
“The government doesn’t plan on raising fuel prices in the near future,” he said, as quoted by Viva.
In Jakarta, as well as the islands of Java and Bali, Pertamina’s Premium (88 octane) fuel sells for IDR6,550 (US$0.44) per liter, while Bio Solar (diesel) sells for IDR5,150 (US$0.34) per liter. Prices of higher octane fuels have also remained the same, such as Pertalite (90 octane) which sells for IDR7,800 (US$0.52) per liter, Pertamax (92 octane) at IDR9,500 (US$0.64) per liter and Pertamax Turbo at IDR10,700 (US$0.72) per liter.
The rupiah on Monday fell to IDR14,777 to the US dollar, its weakest level in 20 years and a 8.93 percent drop since the start of the year. This morning, the rupiah was trading at around IDR14,900 per US dollar according to currency converter website xe.com.
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