Pertamax Fuel Prices Could Fall Again, Here's the Signal

The government, through the Ministry of Energy and Mineral Resources (ESDM) and PT Pertamina (Persero), has emphasised that the price of non-subsidised fuel oil (BBM) follows market conditions. The rise and fall of the Pertamax series price depends on global crude oil prices. Based on current global crude oil prices, the price of Pertamax series fuel could decrease. According to Refinitiv data on Thursday (18/6/2026) at 09:40 WIB, the price of Brent oil was at US$78.28 per barrel, down 1.6% compared to the previous close of US$79.55 per barrel. Meanwhile, West Texas Intermediate (WTI) crude oil was recorded at US$75.42 per barrel, weakening 1.8% from the previous day’s position of US$76.79 per barrel. According to CNBC Indonesia Research, since 12 June, Brent has fallen more than 10%, while WTI has plunged around 11%, even though in June Brent had touched US$97.81 per barrel and WTI reached US$96.02 per barrel. Within a period of about two weeks, Brent has lost nearly US$20 per barrel, while WTI has corrected by more than US$20 per barrel. This means that throughout this month, Brent has fallen 14.9% while WTI has dropped 13.5%. Spokesperson for the Minister of ESDM, Dwi Anggia, previously stated that the price of non-subsidised fuel, including the RON 92 Pertamax product, could fall again if global oil prices also decline. Dwi explained that non-subsidised fuel follows a market price mechanism, as stipulated in the Minister of ESDM Decree Number 245.K/MG/01/MEM.M/2022 which regulates the formula for the basic price of retail fuel calculations. “Can (Pertamax) fall again? Certainly. When world oil prices fall, it can be assured that non-subsidised fuel prices will also fall. Conversely, when world oil prices rise, inevitably, non-subsidised fuel prices must adjust to their economic price,” she said at the Government Communication Agency Office on Wednesday (17/6/2026). Corporate Secretary of Pertamina Patra Niaga, Roberth MV Dumatubun, stated that the explanation of the determination and adjustment of non-subsidised fuel prices is in line with information conveyed by the government that the Pertamax series is a non-subsidised fuel whose selling price follows the development of market parameters according to the applicable formula. Meanwhile, subsidised fuels such as Pertalite and Biosolar are set by the government and remain unchanged. “Non-subsidised fuels such as the Pertamax series are products whose selling prices are adjusted to market conditions and economic factors that affect energy procurement costs,” said Roberth in his press release on Thursday (18/6/2026). Roberth further explained that normally, evaluations of non-subsidised fuel prices are conducted periodically. “In principle, non-subsidised fuel prices are evaluated periodically every month according to the development of economic parameters. However, the implementation still considers policies set by the government,” he added. Amid global conditions and dynamics where world oil prices have risen due to geopolitical conditions, the Government consistently maintains the stability of non-subsidised Pertamax series fuel prices by preventing increases. The price adjustment made in June for Pertamax fuel considered fluctuations in international market prices while still paying attention to domestic economic conditions. “The current Pertamax price adjustment is 50% of the market price difference, and when compared to similar fuel prices in neighbouring ASEAN countries, it remains more competitive in order to maintain purchasing power and the economy,” said Roberth.