Global Oil Price Reaches US$113/Barrel as Government Assesses Impact on Fuel Prices

Jakarta, CNBC Indonesia — The Ministry of Energy and Mineral Resources (MEMR) is currently assessing the impact of rising global crude oil prices on domestic fuel prices in Indonesia. On Monday morning (9 March 2026), crude oil prices reached US$113.68 per barrel.

Energy and Mineral Resources Minister Bahlil Lahadalia disclosed that the ministry is preparing comprehensive measures to anticipate the impact of the oil price increase. However, he affirmed that domestic fuel supplies, including those provided through Pertamina, remain adequately secured.

“Our problem now is not with stocks — there are no stock issues; we have sufficient supplies. The issue is now with prices. We are currently conducting an exercise to implement comprehensive measures,” Bahlil explained at the MEMR office on Monday (9 March 2026).

Nevertheless, he emphasised that the public need not worry about subsidised fuel prices, at least until the upcoming Eid celebrations. However, he declined to provide further comment regarding non-subsidised fuel types.

“But let me assure you again that the public should not be concerned about prices, as there will be no increase in subsidised fuel prices until Eid, God willing. Yes, for subsidised fuel,” he stated.

With adequate domestic fuel stocks, Lahadalia hoped to reassure the public against panic or panic buying. “There really is no need for panic buying,” he stressed.