Global Oil Price Surpasses $100 per Barrel; Bahlil Assures Petrol and Diesel Prices Will Not Rise

Jakarta — Energy and Mineral Resources Minister Bahlil Lahadalia has assured the public that subsidised fuel prices will not increase despite surging global crude oil prices.

Global crude oil prices have now exceeded $100 per barrel, significantly higher than the 2026 state budget assumption of $70 per barrel for Indonesian crude (ICP).

Bahlil stated that Pertalite petrol and Biosolar diesel prices will remain unchanged, assuring the public there is no need for concern ahead of Eid al-Fitr celebrations. “I assure you that people need not worry about prices, as there will be no increase in subsidised fuel prices up to Eid al-Fitr,” he said at the Energy and Mineral Resources Ministry in Jakarta on Monday, 9 March 2026.

Nevertheless, he noted that Indonesia is not facing supply disruptions, having diverted all crude oil imports from the Middle East to the United States. The current challenge is ensuring price stability. “The problem now is not supply; we have no issues with supplies. Our focus now is purely on price,” he stated.

The government is preparing comprehensive measures to respond to the rising global oil prices, Bahlil continued. He reiterated that subsidised fuel prices will not be increased at this time. “Supply presents no problem. Everything is guaranteed for Ramadan and Eid al-Fitr celebrations, with no issues anticipated,” he said.

For context, Brent crude futures currently stand at $108.40 per barrel, whilst West Texas Intermediate (WTI) futures have reached $104.48 per barrel.