PT MIE adjusts prices due to Middle East conflict

Jakarta (ANTARA) - The French lubricant company Motul, under the auspices of PT Motul Indonesia Energy (MIE), is adjusting prices for its products in relation to the dynamics occurring globally. Managing Director of PT Motul Indonesia Energy, Welmart Purba, stated that the decision to adjust prices by PT MIE is driven by increasing pressure on the lubricant industry due to global geopolitical conditions, particularly the conflict in the Middle East region, which directly impacts the volatility of the crude oil market and its derivatives. “Such conditions have triggered a rise in global crude oil prices, increased costs of main raw materials for lubricant production, and a surge in global logistics costs,” said Welmart in his official statement on Sunday. Welmart continued that to address the current situation, his side is reluctantly taking firm steps to ensure the sustainability of their product supply in the country. “PT Motul Indonesia Energy is taking strategic steps to ensure the sustainability of product supply, maintain world-class lubricant quality standards, and guarantee long-term service support for all consumers and business partners,” he added. “We are committed to continuously evaluating developments in the global situation so that our pricing policies remain relevant, competitive, and reflective of actual market conditions for mutual business progress,” explained Welmart. This price adjustment is expected to maintain Motul Indonesia’s position in consistently delivering innovation and high-quality products to consumers in Indonesia, while preserving the trust that has been established.