US-Iran Peace Plan Pushes Oil Down, What About Pertamax Prices?

Coordinating Minister for Economic Affairs Airlangga Hartarto has spoken out regarding the peace agreement between Iran and the United States. The peace deal is seen as good news amidst global uncertainty. In line with this news, world oil prices have experienced a decline. This has sparked the question: Can the price of non-subsidised fuel, such as Pertamax, fall again?

Airlangga explained that the above conditions do not automatically lower non-subsidised fuel prices. He explained that the public needs to observe the implementation of the peace agreement, including the certainty of the Strait of Hormuz being reopened. Nevertheless, he hopes the signing of the peace treaty is truly carried out.

“Firstly, we hope the signing tomorrow can truly be implemented. With the reopening of the Strait of Hormuz, we will then see adjustments to the price again. This is not automatic; we also look at the implementation of the peace agreement,” he said.

When asked further about the certainty of when non-subsidised fuel prices will fall, he declined to provide a definite timeline. According to him, the government needs to observe ongoing developments. “We will see where the goods are at,” he stressed.