Fuel stocks confirmed secure despite rupiah depreciation

JAKARTA – The Ministry of Energy and Mineral Resources (ESDM) has confirmed that the rupiah’s depreciation will not disrupt national fuel supplies. Current fuel reserves are well above the operational minimum threshold, ensuring public demand remains met. Deputy Energy Minister Yuliot Tanjung stated that both subsidized and non-subsidized fuel stocks remain secure. The government continues to monitor global energy markets and rupiah movements to safeguard national energy supply resilience. “As for fuel availability, we have an operational minimum reserve indicator. Our current reserves are far above the minimum required,” Yuliot said in Jakarta on Saturday, 30 May 2026. Yuliot added that this applies to all fuel types. Stocks of Pertalite and Solar CN48 are above the operational minimum, as are Pertamax, Pertamax Turbo, and CN51, which are adequately stocked. The government is also pushing to boost domestic oil and gas production and strengthen national refining capacity. These measures aim to reduce import dependency while bolstering energy resilience amid global market volatility. “Regarding subsidies for fuel price hikes, we have already communicated that domestic production is being increased, and our refineries are prepared,” Yuliot said. He explained the government issued Presidential Regulation No. 26 of 2026, governing crude oil, finished fuel, and LPG procurement. The regulation provides greater flexibility in meeting national energy needs. Under the regulation, crude oil owned by cooperation contract contractors (KKKS) previously earmarked for export can be prioritised for domestic use at prices linked to the Indonesian Crude Price (ICP). “If KKKS companies have export commitments, they can be sold domestically at ICP prices. This ensures KKKS companies are not disadvantaged,” Yuliot added. Alongside domestic supplies, the government retains the option to import via Pertamina and Pertamina Patra Niaga if needed. The new regulation also allows energy sector public service bodies (BLUs) to participate in national energy procurement. Yuliot stated the government will optimise existing BLUs, including Lemigas, to support energy supply resilience. Under this scheme, Lemigas can procure oil, including from international markets. “This regulation allows for imports,” Yuliot said. The government is confident that combining increased domestic production, strengthened refining capacity, and flexible energy procurement will maintain safe fuel supplies despite rupiah pressures and global energy market dynamics.