Despite Oil Price Rise Due to Hormuz Strait Conflict, Bahlil Guarantees Pertalite Fuel Price Will Not Increase

Jakarta — The Minister of Energy and Mineral Resources (ESDM) Bahlil Lahadalia has guaranteed that subsidised fuel prices, specifically Pertalite, will not increase despite global crude oil prices reaching $118 per barrel. Bahlil also emphasised that fuel supplies remain reliable for meeting public demand during the Ramadan and Eid al-Fitr periods.

“Once again, I assure you that until Eid, God willing, there will be no increase in subsidised fuel prices,” said Bahlil when met at the ESDM Ministry office in Jakarta on Monday (9 March 2026).

Accordingly, he urged the public to remain calm and refrain from panic buying.

“There are no supply problems. For Ramadan and Eid al-Fitr, everything is guaranteed; there are no issues,” Bahlil stated.

Previously reported by the Sputnik news agency, Brent crude oil prices reached $118 per barrel for the first time since 17 June 2022.

The surge in global oil prices has been triggered by escalating conflict between the United States and Israel against Iran. Tensions in the region have intensified since the United States and Israel launched major attacks against Iran on 28 February 2026. Those strikes reportedly killed over 1,000 people, including Iran’s Supreme Leader Ali Khamenei, more than 150 schoolgirls, and numerous senior military officials.

Iran subsequently retaliated with a series of attacks targeting US military bases, diplomatic facilities, and military personnel across various regions, including several Israeli cities.

On Sunday (8 March), the United States and Israel also conducted air strikes targeting Iranian oil storage facilities in Tehran and its surroundings. The strikes caused severe damage to several oil storage facilities, including the Shahran Oil Depot.