Pertamina to Monitor Global Oil Prices for Next Month's Pertamax Pricing

Jakarta (ANTARA) - Pertamina Patra Niaga’s Director of Planning and Business Growth, Joko Pranoto, stated that the price of General Fuel Types (JBU) such as the Pertamax Series for the coming month will follow the dynamics of global oil prices.

“For JBU, Patra Niaga has and will continue to respond to increases or decreases in global oil prices,” Joko Pranoto said at the Plumpang Fuel Terminal in Jakarta on Monday.

The statement was made in response to global oil price dynamics. Brent crude oil prices briefly touched US$117 per barrel in April, before quickly correcting to around US$78 per barrel following a US-Iran peace framework that was initially set to be signed in Switzerland on Friday (19/6).

Brent crude oil prices rose back above US$80 (approximately Rp1.4 million) per barrel on Friday (19/6), as investors weighed increasing geopolitical risks after the cancellation of planned negotiations between the United States and Iran, as well as new Israeli strikes in Lebanon.

“What happens in the future, we will see, because our basis is the price from one month prior,” Joko said.

The average Indonesian Crude Price (ICP) for May was US$106.56 per barrel, lower than the April ICP which stood at US$117.31 per barrel.

“The average ICP for May 2026 was set at US$106.56 per barrel, in line with the decline in major global crude oil prices,” said Laode Sulaeman, Director General of Oil and Gas at the Ministry of Energy and Mineral Resources, in an official statement.

The decline in the May ICP aligns with the weakening of major global crude oil prices, particularly Dated Brent, which was influenced by the easing of geopolitical tensions between the United States, Israel, and Iran.

Furthermore, Laode explained that throughout May 2026, the global oil market responded to a number of developments indicating a de-escalation of the conflict in the Middle East.