Cabinet Secretary Teddy Explains Reasons for Pertamax Price Increase

Jakarta, CNBC Indonesia - The Cabinet Secretariat has posted an explanation regarding the reasons for the price increase of non-subsidised fuel, such as Pertamax or RON 92, by Pertamina. It was explained that Pertamax is a product that must follow global oil price movements. Cabinet Secretary Teddy Indra Wijaya provided three points of clarification.

“First, Pertamax is a non-subsidised fuel, meaning its price must follow global oil prices,” Teddy wrote in an Instagram post by the Cabinet Secretariat on Friday (12/6/2026).

However, he explained that subsidised fuels such as Pertalite and Diesel have not increased. Currently, Pertalite remains at Rp 10,000 per litre, and Diesel at Rp 6,800 per litre.

Teddy also explained that global oil prices have risen drastically since March 2026. According to him, the government had already been holding back the fuel price increase. “Second, global oil prices have risen drastically since March, but the Government has held back the increase for months,” Teddy wrote.

Third, the price of Pertamax is said to be much cheaper compared to RON 92/95 fuel in other countries. For comparison, data from Petrol Price, Gas Watch, shows fuel prices in Indonesia at Rp16,260, the Philippines at Rp22,158, Laos at Rp31,945, Thailand at Rp28,910, Myanmar at Rp25,085, and Singapore at Rp42,971.

It is known that global oil prices weakened again in trading on Friday (12/6/2026), extending a sharp correction that has been ongoing since the beginning of the week. The easing risk of direct conflict between the United States (US) and Iran has caused the previously inflated geopolitical risk premium to evaporate from the market.

According to Refinitiv data as of 09.50 WIB, Brent crude oil prices stood at US$89.41 per barrel, down 1.07% from the previous close of US$90.38 per barrel. Meanwhile, West Texas Intermediate (WTI) crude oil corrected 1% to US$86.83 per barrel from US$87.71 per barrel.

Today’s weakening extends a fairly deep downward trend throughout the week. Brent has slumped from US$97.81 per barrel on 3 June to the current US$89.41 per barrel, a drop of about 8.6%. In the same period, WTI fell from US$96.02 to US$86.83 per barrel, correcting nearly 9.6%.

However, compared to 12 February, Brent crude oil prices were around US$69.4 and West Texas Intermediate (WTI) crude was at US$62.8.