Energy Ministry confirms subsidized fuel prices will not rise despite rupiah weakening to Rp17,877 per US dollar

The Ministry of Energy and Mineral Resources (ESDM) has assured that subsidized fuel prices, such as Pertalite and Biosolar, will not increase despite the US dollar to rupiah exchange rate reaching Rp17,877 per dollar.

“Subsidised fuel price increases have already been confirmed not to rise until the end of the year,” said Deputy Energy Minister Yuliot during an interview at the ESDM office in Jakarta on Friday.

In addition to prices, Yuliot stated that fuel stocks are secure and above the minimum reserve level. The national operational minimum stock standard is set at 23 days.

“For Pertalite, stocks are well above the minimum reserve, and similarly for CN48 diesel,” Yuliot added.

Regarding non-subsidised fuel supply, Yuliot confirmed adequate national availability.

To address the weakening rupiah against the US dollar, Yuliot said the government is pushing for increased domestic oil production and preparing domestic refineries.

“We are promoting increased domestic production, and domestic refineries have also been prepared,” he said.

The exchange rate has now breached new psychological levels around Rp17,700-17,800 per US dollar. Meanwhile, the benchmark interest rate (BI Rate) was raised by 50 basis points to 5.25% to strengthen rupiah stability.

According to Bank Indonesia’s transaction rates accessed in Jakarta on Friday, the US dollar to rupiah exchange rate hit Rp17,877 per dollar.

Energy Minister Bahlil Lahadalia stated that despite the average Indonesian Crude Price (ICP) in April 2026 reaching $117.31 per barrel, subsidized fuel prices remain secure.

He referenced the average ICP from January 2026, which has not yet reached the $100 per barrel threshold.

“Currently, our average ICP is around $80-81 per barrel from January to now. So, it hasn’t reached $100,” Bahlil said.

Therefore, Bahlil reiterated that subsidized fuel prices will remain stable until the end of 2026.

“Insha’Allah until the end of the year,” he added.