TEMPO.CO, Jakarta - The Minister of Energy and Mineral Resources, Bahlil Lahadalia, explains Indonesia's fuel stock. Bahlil previously stated that the fuel reserve is sufficient for 20 days after the closure of the Strait of Hormuz, one of the world's fuel oil distribution routes, due to the war between Iran, the United States, and Israel.
Bahlil stated that a fuel oil reserve sufficient for only 20 days is not an emergency. According to him, the stock already meets the standard. "That's our capability, so the national standard is a minimum of 20 to 21 days," said Bahlil at the Presidential Palace in Jakarta on Wednesday, March 4, 2026.
Bahlil stated that the maximum capacity of fuel oil storage in Indonesia is 25 days. "Why don't we stock for more than 25 days? Because even if we want to, where would we store it? The storage is not sufficient," said the Chairman of the Golkar Party.
Bahlil stated that the government currently aims to increase Indonesia's fuel oil storage capacity. President Prabowo Subianto, he said, targets the capacity of fuel oil to be sufficient for up to three months. "At present, the government, under the direction of President Prabowo, has instructed us to immediately build storage, so that our energy resilience is maintained," he explained.
On Monday, March 2, 2026, Bahlil confirmed that the national fuel oil reserves are still sufficient amidst the conflict in the Middle East. The conflict between Iran, Israel, and the United States has caused the distribution route in the Strait of Hormuz to be closed by the Iranian authorities.
Bahlil stated that the fuel oil reserve in Indonesia is still sufficient for almost three weeks. "Still sufficient for 20 days," said Bahlil during a meeting with President Prabowo Subianto at the Presidential Palace, Jakarta, on Monday, March 2, 2026.
Bahlil stated that the Iran-Israel-U.S. conflict has not yet impacted energy subsidies in the country. "Until today, there is no issue with (fuel oil) subsidies, but the world price will surely correct as the geopolitical situation continues to heat up in the Middle East," he said.
Nevertheless, Bahlil highlighted the closure of the Strait of Hormuz in Iran due to the conflict. According to him, the Indonesian government needs to anticipate the closure of the fuel oil distribution route. "At any rate, we still import (fuel oil) before Eid," he said.
The escalation of war in the Middle East has driven up the world's oil prices to the highest levels since the beginning of the year on Tuesday, March 3, 2026. The oil prices remain above US$80 per barrel until the opening of trade on Wednesday, March 4, 2026.
Citing data from Trading Economics, the price of crude oil futures contracts reached US$84 per barrel on March 3, 2026, the highest level since January. At the opening on March 4, 2026, the oil price opened at US$82 per barrel, while the WTI oil price rose to around US$75 per barrel.
Kiwoom Sekuritas Indonesia stated that the escalation of the conflict between the United States and Israel versus Iran has once again put the global energy market on alert. "The threat to the Strait of Hormuz, a route for around 20 percent of the world's oil trade, directly triggers a surge in oil prices and increases the risk of global energy inflation," wrote the analysis from Kiwoom Sekuritas on Wednesday, March 4, 2026.
Ilona Estherina contributed to this article
Read: Indonesia Yet to Decide on Fuel Price Hike Amid Strait of Hormuz Closure
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