Minister of Energy and Mineral Resources Bahlil Lahadalia has stated\nthat global oil and gas price dynamics remain highly volatile due to\nuncertain geopolitical conditions. Despite this, the government has\nguaranteed that prices for subsidised fuel and LPG will not\nincrease.<\/p>\n
Speaking during a working meeting with Commission XII of the House of\nRepresentatives (DPR) at the Parliament Complex in Senayan, Jakarta, on\nMonday (15\/6), Bahlil explained that global oil price movements are\ndifficult to predict precisely because of rapidly changing external\nfactors. \u201cPrices can rise quickly and fall just as fast. Finding a\nstable average still requires a lengthy adjustment period,\u201d he said.<\/p>\n
Bahlil stressed that non-subsidised fuel prices will continue to\nfollow market mechanisms in accordance with Minister of Energy and\nMineral Resources Regulation No.\u00a011 of 2022. However, for lower-middle\nincome groups, the government remains committed to maintaining price\nstability. \u201cAmidst global oil price dynamics, the government has agreed,\nunder the President\u2019s directive, not to raise subsidised fuel prices,\nincluding LPG,\u201d he asserted.<\/p>\n
Brent crude oil prices reportedly fell 3.9 percent to US$84 per\nbarrel, while WTI dropped 4.8 percent to US$81 per barrel, following the\nannouncement of a preliminary agreement between the United States and\nIran regarding the opening of the Strait of Hormuz.<\/p>\n
Responding to this, Commission XII member Syarif Fasha from the\nNasDem Party urged the government to be flexible. He called for an\nimmediate reduction in non-subsidised fuel prices if the downward trend\nin global oil prices continues to the US$70 per barrel level. \u201cIf it\nreaches US$70, we should lower the non-subsidised prices. The previously\nincreased prices should not be maintained at current levels,\u201d Fasha\nsaid.<\/p>\n
The decline in global oil prices on Sunday (14\/6) was triggered by US\nPresident Donald Trump\u2019s claim of reaching an agreement with Iran. The\ndeal includes ending the naval blockade of the Strait of Hormuz, a\ncritical global energy shipping route. The Memorandum of Agreement is\nscheduled to be formally signed next Friday in Switzerland.<\/p>", "url": "https:\/\/jawawa.id\/newsitem\/bahlil-non-subsidised-fuel-prices-follow-market-mechanism-1781527850", "image": "" }, "sponsor": "Okusi Associates", "sponsor_url": "https:\/\/okusiassociates.com" }