Bahlil Assures Subsidised Fuel Prices Will Not Rise Until Year-End

Jakarta, CNBC Indonesia - The Minister of Energy and Mineral Resources (ESDM), Bahlil Lahadalia, has assured that the government will not raise the prices of subsidised fuels until the end of this year. This holds true even though global oil prices remain volatile.

He also confirmed that Indonesia’s fuel supplies are still tending towards secure.

“It’s safe. I convey to the public that, God willing, our stocks are above the minimum standard, whether it’s diesel, petrol, or LPG; God willing, it’s safe,” said Bahlil when met after a Limited Meeting with President Prabowo Subianto at the State Palace, Jakarta, on Thursday (16/4/2026).

“And once again, I say that we have agreed on the direction from the President that subsidised fuel prices will not be raised until the end of the year, God willing, forever,” he added.

Bahlil also hopes that global crude oil prices do not surge back above US$100 per barrel, which would not add to the burden on the state budget (APBN).

“This depends on the ICP price, but if it reaches US$100, it’s already safe for the APBN, and the average ICP price from January until now is not more than US$77 (per barrel). So we’ve only split US$7, so don’t let anyone think where our money comes from? We’ve only risen by US$7 up to now, as I’m saying,” said Bahlil.

It should be noted that global oil prices moved lower in Thursday morning trading (16/4/2026), after market participants responded to the prospect of easing tensions between the United States and Iran. Hopes for a new diplomatic channel have slightly reduced the geopolitical risk premium, although global supply disruptions still loom.

According to Refinitiv data at 09.30 WIB on Thursday (16/4/2026), the nearest Brent contract was at US$95.19 per barrel, up slightly from the previous close of US$94.93 per barrel. Meanwhile, West Texas Intermediate (WTI) was recorded at US$91.60 per barrel, higher than Wednesday’s close of US$91.29 per barrel.