Indonesia's Fuel Price Turmoil, New Zealand's Already Hit This High!

Jakarta, CNBC Indonesia - Fuel prices in Indonesia pale in comparison to those in New Zealand, where petrol prices have soared much higher. According to an Instagram post by @jktdelicacy, the price of RON 91 petrol in New Zealand has reached NZ$3.80 per litre, or approximately Rp38,700 per litre. This marks a significant increase from the previous level of around US$3 per litre. “If you’re complaining about fuel prices in Indonesia being expensive, here in New Zealand, petrol is NZ$3.80 or Rp38,700 per litre,” stated @jktdelicacy, as quoted on Tuesday (31/3/2026). The post notes that this price hike is quite surprising. For refuelling 30 litres, the cost amounts to around Rp1.1 million. “Honestly, this is really shocking because petrol prices in New Zealand have risen from the initial US$3 to now $3.80, and filling 30 litres costs over 1.1 million. This is crazy, the highest price yet,” they said. Previously, non-subsidised fuel prices were expected to rise starting 1 April 2026, following the surge in global oil prices and the increasing burden of energy compensation that the government must bear. Bhima Yudhistira, Executive Director of the Center of Economic and Law Studies (CELIOS), estimated that non-subsidised fuel prices such as Pertamax and Pertamina Dex could increase by around Rp1,500 to Rp2,000 per litre. According to Bhima, this rise is inseparable from the swelling compensation that the government must pay to PT Pertamina (Persero). “Non-subsidised fuel is expected to rise by 1,500-2,000 per litre for Pertamax and Pertamina Dex. The increase in non-subsidised fuel is due to the significant surge in government compensation to Pertamina,” Bhima told CNBC Indonesia on Monday (30/3/2026). Bhima assessed that without substantial budget reallocation in the state budget, the gap between economic prices and selling prices of fuel will become increasingly difficult to cover. Meanwhile, if not adjusted, the risk falls on Pertamina to bear the burden. “Or the risk is indeed on Pertamina, with bleeding cash flow,” he said. On the other hand, he added that this is not the first increase and could continue, in line with persistently high global oil prices in the range of US$90 to US$115 per barrel.