The Minister of Energy and Mineral Resources, Bahlil Lahadalia, has\nstated that the public need not engage in panic buying of fuel.\nAccording to Bahlil, people should remain calm amid fluctuations in\nglobal oil prices resulting from conflict in the Middle East.<\/p>\n
\u201cI advise and urge that there is no need for panic buying because our\nfuel stock is indeed adequate,\u201d said Bahlil at the Presidential Palace\nin Jakarta on Tuesday, 10 March 2026.<\/p>\n
According to Bahlil, Indonesia\u2019s current fuel storage capacity is\nsufficient for 21 to 25 days. However, he stated that fuel stocks are\ncontinuously replenished as they diminish. He claimed that the domestic\nfuel industry continues to operate whilst imported oil from abroad faces\nno difficulties.<\/p>\n
Bahlil assessed that the Middle Eastern conflict has had limited\nimpact on domestic fuel stocks. This is because, he said, Indonesia only\nimports crude oil from the region.<\/p>\n
Indonesia, he stated, has other fuel sources. \u201cRefined oil we import\nfrom Southeast Asian countries and from domestic production. So there is\nno need for panic buying like that,\u201d said the chairman general of the\nGolkar Party.<\/p>\n
The closure of the Strait of Hormuz in the Persian Gulf due to\nconflict between the United States and Israel against Iran has resulted\nin a surge in global oil prices. The conflict in the region has now\nentered its eleventh day.<\/p>\n
According to reports by Sputnik, Brent crude oil prices reached\nUS$118 per barrel for the first time since 17 June 2022. This figure is\nhigher when compared with the average oil price in January 2026, where\nBrent (ICE) was US$64 per barrel, and US WTI stood at US$57.87 per\nbarrel.<\/p>\n
On Tuesday, 10 March 2026, Brent crude oil prices fell to US$92.45\nper barrel. The decline occurred after US President Donald Trump stated\nthat the Middle Eastern conflict would soon end.<\/p>\n
In the conflict between the US-Israel and Iran, military attacks have\noccurred in several regions, including central Iran and Beirut. The\nsituation has intensified following reports that the Strait of Hormuz\u2014a\nvital global energy trade route\u2014remains effectively closed. This strait\nis known to be the route for approximately one-fifth of global oil\ndistribution.<\/p>\n
The closure of this strategic passage has also compelled several oil\nproducers in the Persian Gulf region, including Saudi Arabia, to reduce\nproduction. This situation has raised concerns about global energy\nsupply and prompted investors to shift towards safe-haven assets such as\ngold.<\/p>", "url": "https:\/\/jawawa.id\/newsitem\/bahlil-fuel-stock-sufficient-public-need-not-panic-buy-1773150850", "image": "" }, "sponsor": "Okusi Associates", "sponsor_url": "https:\/\/okusiassociates.com" }