Finance Minister Purbaya Says Pertamax Price Could Potentially Fall

Finance Minister Purbaya Yudhi Sadewa believes the price of Pertamax fuel has the potential to fall in line with movements in global oil prices. “I am confident that with the potential decline in world oil prices, Pertamax and other fuel prices will also fall, so the foundation of our economic growth will become stronger,” he said during a meeting with the Regional Representative Council (DPD) in Jakarta on Monday. Purbaya explained that the global economy is receiving hope from the opening of peace opportunities between the United States and Iran. If that peace materialises, he said, rupiah exchange rate stability is expected to improve, the cost of funds will become more competitive, and investment will continue to strengthen. “This means the growth momentum should improve going forward. Because we know, one of the pressures we experience is when world oil prices rise, we are forced to raise some non-subsidised fuel prices, even as we maintain subsidised ones,” he added. He acknowledged that changes to non-subsidised fuel prices put pressure on the public. However, he noted that current economic data indicates a direction of improvement. “From the data we see now, it appears we have passed that testing period. Going forward, we just need to strengthen the existing foundation so that with these improvements, we can grow more optimally,” he explained. The Finance Minister expressed hope that peace between the US and Iran would lower global oil prices, allowing Indonesia to record more positive economic performance in the second half of 2026. In the first half of 2026, he assessed that the Indonesian economy continued to show strong resilience amid a global economy still overshadowed by various uncertainties. Economic growth in the first quarter of 2026 was recorded at 5.61 percent, inflation remained at a low level, the trade balance recorded a surplus for 72 consecutive months through April 2026, foreign exchange reserves were at an adequate level, credit disbursement grew by double digits, and the manufacturing sector returned to an expansionary zone. This situation, he said, indicates that market confidence is starting to increase.