ESDM ensures Pertalite prices will not rise despite global oil hitting $107 per US dollar

Regarding Pertalite, as conveyed by the Minister (ESDM Bahlil Lahadalia), we will maintain the current price with no increases for Pertalite or other subsidised fuels until the end of the year,” stated Deputy Minister of Energy and Mineral Resources, Yuliot, when met after a pilgrimage at the Kalibata Heroes Cemetery, Jakarta, on Tuesday.

However, he continued, prices for non-subsidised fuel will undergo adjustments as they follow market prices. The adjustment for non-substidiary fuel will follow the average global oil price over a one-month period.

“So, we are looking at the average over one month to determine approximately how much the adjustment will be,” said Yuliot.

This statement comes in response to soaring global oil prices caused by the conflict between the United States and Iran. Yuliot revealed that global oil prices touched $107 per barrel in late September 2026. This figure indicates an upward trend after prices had levelled off during June–July.

Purbaya Yudhi Sadewa, during his tenure as Minister of Finance, guaranteed that the State Budget (APBN) deficit would remain controlled until the end of the year, assuming a macro average for the Indonesia Crude Price (ICP) at the $100 level.

According to calculations by Yayan Satyakti, a researcher and lecturer at the Faculty of Economics and Business, Padjadjaran University, the average ICP for January–September was approximately $90.6 per barrel.

Responding to these conditions, Yuliot ensured that the government will accelerate the exploration and exploitation of oil and gas amidst the geopolitical volatility causing the surge in global oil prices.

Yuliot stated that the government has mapped several oil and gas fields with potential production of approximately 2,500–3,000 barrels per day, which will be ramped up in 2027 and 2028.

By doing so, he continued, the government can promptly realise the target of 1 million barrels of oil per day by 2029–2030 to achieve national energy self-sufficiency.

“We will boost this exploration and exploitation in 2027 and 2028 so that our target of 1 million barrels can be achieved,” said Yuliot.