Government Guarantees No Increase in Subsidised Fuel Prices Despite Oil Hovering at US$100

The government will not adjust the prices of subsidised fuels, such as Pertalite and Solar, despite global crude oil prices soaring back to around US$100 per barrel. This assurance was given by Finance Minister Purbaya Yudhi Sadewa ahead of a meeting with Pertamina’s board of directors at the Ministry of Finance. ‘We will continue to protect the subsidised ones,’ Purbaya stated. Regarding non-subsidised fuels like Pertamax and Pertamax Turbo, Purbaya emphasised that pricing is entirely at the discretion of PT Pertamina, in accordance with market mechanisms. ‘Non-subsidised fuel is not my concern; that is entirely up to Pertamina,’ he asserted. Global oil prices saw a slight dip in early trading on Friday after a sharp rally the previous day, yet they remain on track for a double-digit weekly gain. Brent crude was recorded at US$100.25 per barrel, while West Texas Intermediate (WTI) stood at US$91.71 per barrel. The rally was triggered by heightened supply disruption risks after Iran-backed Houthi forces claimed attacks on two Saudi tankers in the Red Sea, raising fears that the critical Bab el-Mandeb shipping corridor could be affected.