Purbaya: Pertamax Price Could Fall in Line with Global Oil Prices

Finance Minister Purbaya Yudhi Sadewa believes the price of Pertamax fuel has the potential to decline in line with movements in global oil prices. “I am confident that with the potential decline in global oil prices, the price of Pertamax and others will also fall, so the foundation of our economic growth will become stronger,” Purbaya said during a meeting with the Regional Representative Council (DPD) in Jakarta on Monday. Purbaya explained that the global economy has gained hope from the opening of peace opportunities between the United States (US) and Iran. If that peace is realised, Purbaya said, the stability of the rupiah exchange rate is expected to improve, the cost of funds will become more competitive, and investment will continue to strengthen. “This means the growth momentum should improve going forward. Because we know, one of the pressures we experienced was when global oil prices rose, we were forced to raise some non-subsidised fuel prices, even though we maintained the subsidised ones,” he added. He acknowledged that the change in non-subsidised fuel prices put pressure on the public. However, according to him, the economic data currently visible indicates a direction of improvement. “From the data we see now, it seems we have passed that testing period. Going forward, we just need to improve the existing foundation so that with these improvements, growth can be more optimal,” he explained. The Finance Minister also expressed hope that the peace opportunity between the US and Iran could lower global oil prices, allowing Indonesia to record more positive economic performance in the second half of 2026. For the first half of 2026, Purbaya assessed that the Indonesian economy continued to show strong resilience amidst a global economy still overshadowed by various uncertainties. Economic growth in the first quarter of 2026 was recorded at 5.61 percent, inflation remained at a low level, the trade balance recorded a surplus for 72 consecutive months up to April 2026, foreign exchange reserves were at an adequate level, credit disbursement grew by double digits, and the manufacturing sector returned to an expansionary zone. This situation, he said, indicates that market confidence is starting to increase.