Bahlil says discussion on Pertamax price adjustment is nearly complete
Minister of Energy and Mineral Resources (ESDM) Bahlil Lahadalia stated that discussions regarding the adjustment of non-subsidised fuel oil (BBM) prices, such as the Pertamax series, are nearly complete.
“We just need to see when the adjustment will be made. My feeling is, based on our meetings with Pertamina and private businesses, it’s almost done,” Bahlil said when met at the Ministry of ESDM office in Jakarta on Friday.
Bahlil explained that the price adjustment aligns with Ministerial Decree (Kepmen) ESDM No. 245.K/MG.01/MEM.M/2022, which amends Kepmen No. 62 K/12/MEM/2020, referring to the Minister of Energy and Mineral Resources Regulation Number 11 of 2022 on the Calculation of Retail Selling Prices for Fuel Oil.
The decree regulates the Basic Price Formula in the Calculation of Retail Selling Prices for General Fuel Oil Types of Petrol and Diesel Distributed Through Public Fuel Filling Stations.
“In accordance with the 2022 Minister of ESDM Regulation, non-subsidised BBM is based on market prices,” Bahlil said.
Pertamina, along with private businesses managing public fuel filling stations (SPBU) such as Shell, Vivo, and bp, have held non-subsidised BBM prices since early April 2026, despite a surge in global oil prices due to the war between the United States (US)-Israel and Iran.
Meanwhile, current global oil prices for Brent and West Texas Intermediate (WTI) are in the range of 90–100 US dollars per barrel, higher compared to the average oil price in January 2026, where Brent (ICE) was 64 US dollars per barrel.
The holding of non-subsidised BBM prices was initiated by a statement from the Minister Secretary of State (Mensesneg) Prasetyo Hadi on Tuesday (31/3), who conveyed that the government ensures that fuel oil (BBM) prices, both subsidised and non-subsidised, will not increase.
The decision was taken after coordination with the Ministry of Energy and Mineral Resources (ESDM) and PT Pertamina, in accordance with instructions from President Prabowo Subianto.
The government also assures that national BBM is in a safe and available condition, so the public is asked not to panic or worry about rumours of price increases.
The price holding creates a difference between the selling price and the oil purchase price amid the surge in global oil prices.
Finance Minister Purbaya Yudhi Sadewa also stated that Pertamina is temporarily bearing the difference in non-subsidised fuel oil (BBM) prices while no adjustment is made to non-subsidised BBM prices amid the surge in global oil prices.