Government Assures National Fuel Oil Reserves Are Secure, No Need for Panic Buying
Jakarta — The government has ensured that the nation’s fuel oil reserves remain secure amid Middle Eastern conflict that could potentially trigger a spike in crude oil prices following Iran’s decision to close the Strait of Hormuz.
The Energy and Mineral Resources Ministry (ESDM) spokesperson Dwi Anggia urged the public not to engage in panic buying given this assurance.
“We are appealing to the public specifically because it has already been stated that our national fuel oil reserves are secure, above the minimum standard average for fuel reserves, so there is no reason for the public to engage in panic buying,” said Dwi at the Government Communications Agency (Bakom) headquarters in Central Jakarta on Monday (9 March 2026).
Dwi explained that Indonesia’s fuel reserves will continue to be maintained to meet the national minimum standard of above 21 days.
He then used an analogy of water continuously filling a tank. When water is used, the tank will automatically be refilled until full again. Supply comes from domestic oil production as well as from several alternative countries outside the Middle East.
“(Supply comes) from several alternative countries outside the Middle Eastern region which is currently experiencing unrest. That is the picture. Do not assume that 21 days from 9 March onwards until 30 March will be depleted; that is not how the calculation works,” explained Dwi.
“Because these 21 days represent a minimum standard and every day the supply continues to increase, whether from domestic production or from crude that we purchase from abroad,” he added.
He stated that panic buying would only harm individuals. Conditions that should normally be stable could potentially become chaotic if such actions were taken without clear justification.
Meanwhile, PT Pertamina’s Corporate Secretary Arya Dwi Paramita added that the company has mobilised a Ramadan and Eid Holiday Task Force to ensure fuel supply availability. This task force will operate 24 hours until 1 April 2026.