US-Iran Peace: Why Hasn't Pertamax Price Dropped? Here's What Airlangga Says

The easing of tensions between the United States and Iran has not automatically led to a drop in the price of non-subsidised fuel such as Pertamax. The government is still waiting for the concrete implementation of the peace agreement between the two countries, including certainty over the reopening of the Strait of Hormuz, one of the world’s most strategic oil distribution routes.

Coordinating Minister for Economic Affairs Airlangga Hartarto said the government is open to reviewing non-subsidised fuel prices. However, this evaluation can only be carried out once geopolitical conditions and global energy distribution have truly stabilised.

“Firstly, there is the signing, and the hope is that tomorrow it can genuinely be implemented. With the reopening of the Strait of Hormuz, we can then look at price adjustments again,” Airlangga said after accompanying President Prabowo Subianto at a meeting with the Association of State-Owned Banks (Himbara) at the Presidential Palace complex in Central Jakarta, as quoted on Friday, 19 June 2026.

The statement confirms that the government is not only looking at the political agreement between the US and Iran, but also its impact on the global energy supply chain. The Strait of Hormuz has long been the main route for shipping crude oil from the Middle East to various countries, including Asian markets.

Therefore, according to Airlangga, a fuel price reduction cannot be implemented automatically just because a peace agreement has been reached. The government still needs to scrutinise the on-the-ground implementation and developments in international energy distribution.

“This is not automatic; we are also looking at the implementation of the peace agreement,” he said.

When asked when the government would begin considering a Pertamax price adjustment, Airlangga did not provide a definite deadline. He stressed that the evaluation would be conducted by observing oil distribution developments following the agreement.

“We will see where the goods have reached,” he stated.