Video: Fuel Price Holds Steady—War Rumours End, Oil Price Falls?

Jakarta, CNBC Indonesia - The Ministry of Energy and Mineral Resources has confirmed that fuel prices will not experience an increase in the near term. President Prabowo Subianto is planning to increase the subsidy budget to maintain energy price stability amid surging global oil prices. Meanwhile, over the course of several days, oil prices have surged sharply before falling on a scale rarely seen since an energy crisis several years ago. Geopolitical tensions in the Middle East have been the trigger, whilst discussion of releasing global emergency oil reserves is beginning to overshadow the market direction.