Bahlil meets with private sector to find formulation for non-subsidised fuel prices

Jakarta (ANTARA) - The Minister of Energy and Mineral Resources (ESDM), Bahlil Lahadalia, held a meeting with private business entities managing public fuel filling stations (SPBU) to find a formulation for fuel oil (BBM) prices amid the surge in global oil prices.

“Regarding non-subsidised BBM prices, we are currently in discussions. These discussions naturally involve other private entities,” Bahlil stated when met at the Ministry of ESDM office in Jakarta on Monday.

Bahlil conveyed that negotiations are still ongoing. The government, he continued, is striving to regulate and find a good and prudent formulation.

He stated that the government fully understands the current conditions of society amid the global oil price surge.

“Up to now, we are regulating and seeking a good and prudent formulation. Wait until it’s finalised, and I will inform you,” Bahlil said.

This statement relates to the government’s decision to hold non-subsidised BBM prices since early April 2026, as announced by the State Secretary (Mensesneg) Prasetyo Hadi on Tuesday (31/3).

Prasetyo stated that the government ensures that fuel oil (BBM) prices, both subsidised and non-subsidised, will not increase. This decision was taken after coordination with the Ministry of Energy and Mineral Resources (ESDM) and PT Pertamina, in line with President Prabowo Subianto’s instructions.

The price hold creates a differential between the selling price and the purchase price of oil amid the global oil price surge.

Finance Minister Purbaya Yudhi Sadewa also stated that Pertamina is temporarily bearing the differential in non-subsidised fuel oil (BBM) prices, as long as non-subsidised BBM prices are not adjusted amid the global oil price surge.