Danantara COO Unfazed by Pertamax Price Hike: Can't Subsidise It Forever

Danantara Chief Operating Officer (COO) Dony Oskaria has responded to the increase in the price of non-subsidised fuel (BBM) type Pertamax, which took effect on 10 June 2026. According to Dony, the decision to raise Pertamax prices was made due to a surge in global crude oil prices that directly impacts the cost of fuel provision. As a non-subsidised product, Pertamax does not receive budgetary support from the government, so its pricing follows market developments. In the latest adjustment, the price of Pertamax increased from Rp12,300 to Rp16,250 per litre. Meanwhile, Pertamax Green also experienced a price increase from Rp12,900 to Rp17,000 per litre. Dony Oskaria stated that the price change is a consequence that must be taken when energy procurement costs continue to rise. If prices are not adjusted, the burden borne by the company will become even greater. He emphasised that Pertamax is indeed not intended for groups receiving subsidies. Therefore, implementing prices that follow market conditions is deemed appropriate for the product’s character. “Indeed, the mandate is that Pertamax must follow market prices. If it doesn’t, then should it keep being borne indefinitely? It is for the upper-middle class,” said Dony, as quoted on Thursday, 11 June 2026. Dony explained that Pertamax users generally come from the middle to upper economic groups. Therefore, he considers it inappropriate for the price of non-subsidised fuel to be kept below market prices. He even revealed that the current Pertamax price still does not fully reflect the actual economic price. The man who also serves as Head of the State-Owned Enterprise Regulatory Body (BP BUMN) mentioned that the price adjustment policy has received approval from the Ministry of Energy and Mineral Resources (ESDM). “Because it is for the upper-middle class, even so, it is actually only 50 per cent of the real price,” he stated. Furthermore, Dony is of the view that maintaining non-subsidised fuel prices below market value actually has the potential to create injustice. According to him, people with better economic capacity should not benefit from policies that ultimately burden other community groups. He stressed that applicable regulations also require non-subsidised fuel to follow market price developments.