Bahlil Announces Subsidised Fuel Prices Will Not Increase Until 2027
Energy and Mineral Resources Minister Bahlil Lahadalia has announced that fuel prices will not increase until 2027. The Golkar Party chairman hopes this condition can be maintained for as long as possible.
Bahlil stated that the current oil supply in the country is above the minimum standard. “Whether it’s diesel, petrol, or LPG (liquefied petroleum gas), it should be safe, God willing,” Bahlil said after meeting President Prabowo Subianto at the Presidential Palace in Jakarta on Thursday, 16 April 2026.
With this condition, President Prabowo Subianto has instructed that subsidised fuel prices should not rise. “On the instructions of the President, subsidised fuel prices will not be increased until the end of the year,” Bahlil said.
The former investment minister hopes that subsidised fuel prices will not change, even forever. “God willing, forever, pray for it,” Bahlil said.
Fuel prices, Bahlil said, depend on the movement of the Indonesian Crude Price (ICP). However, he stated that the state budget can still support energy subsidies as long as the ICP is in a safe range, namely below US$100 per barrel. Currently, he said, the ICP price is around US$77 per barrel.
On the same occasion, Bahlil also announced the results of crude oil cooperation with Russia. According to him, Russia is ready to supply oil to Indonesia.
Bahlil conveyed that this step is the result of his meeting with the Russian Energy Minister and Putin’s special envoy in Moscow a few days ago. The meeting took place after President Prabowo Subianto met Putin in the Russian capital.
Bahlil then reported the results of his negotiations to Prabowo at the Presidential Palace in Jakarta on Thursday, 16 April 2026. “The news is, praise be to God, quite encouraging, that we will receive crude oil supplies from Russia,” Bahlil said.
Indonesia, he conveyed, is still facing an oil supply deficit and must import. Bahlil said the national fuel consumption is around 1.6 million barrels every day, while domestic oil lifting is around 600,000 to 610,000 barrels per day.
This means Indonesia is still short of about one million barrels of oil per day. “In this global situation, we must seek sources from various countries,” said the former investment minister.