Bahlil: No Increase in Subsidised Fuel and LPG Prices

The government is striving to ensure that the prices of subsidised fuel and LPG in Indonesia do not increase, and we are continuously seeking solutions. Manado (ANTARA) - Minister of Energy and Mineral Resources (ESDM) Bahlil Lahadalia has emphasised that there will be no increase in the prices of subsidised fuels (BBM) and LPG amid the current Middle East geopolitical crisis. “The government is striving to ensure that the prices of subsidised BBM and LPG in Indonesia do not increase, and we are continuously seeking solutions,” Bahlil said after opening the 11th Regional Deliberation (Musda) of the Golkar Party in North Sulawesi (Sulut) in Manado on Saturday. He stated that in accordance with President Prabowo Subianto’s directives, Indonesia must achieve self-sufficiency in energy and food, thus as the Minister of ESDM, he has been tasked with meeting those targets. Bahlil said that his side has undertaken various efforts to increasingly minimise the volume of BBM and LPG imports. “We will harness the natural resources we have, so that energy self-sufficiency can be achieved,” he said. National stocks are in a safe condition, namely fuels for up to 20 days ahead and LPG for up to 10 days ahead, after passing the crisis period and with supplies ensured to be sufficient. The government is committed to not raising the prices of subsidised BBM and 3 kg LPG to maintain economic stability. Indonesia’s fuel needs reach around 1.5 to 1.6 million barrels per day in 2024-2026. This consumption is dominated by petrol at around 100,000 KL/day and diesel at around 111,000 KL/day in 2026. Domestic fuel production is only around 600,000 barrels per day, leading to high imports to cover the gap. He said that more than 59 percent of the national fuel needs are met through imports, mostly from Singapore and Malaysia.