TEMPO.CO, Jakarta - Finance Minister Purbaya Yudhi Sadewa stated that the government has no plans to raise the prices of subsidized fuel despite the increase in world oil prices due to the conflict between the United States and Israel with Iran.
"Up to now, there has been no policy to change the fuel subsidy, in the sense of raising fuel prices," Purbaya told reporters in Jakarta on Monday, March 9, 2026, as quoted from Antara.
This decision was made after the government ensured that the domestic oil supply is still relatively secure. This is in line with what was previously conveyed by the Minister of Energy and Mineral Resources (ESDM) Bahlil Lahadalia.
Furthermore, Purbaya explained that the current average world oil prices are still below the maximum capacity of the State Budget (APBN). This indicates that the APBN remains robust enough to withstand the impact of oil price volatility.
Nevertheless, the government will continue to monitor developments in the next month and make decisions as needed. "Now is not the time to make a decision, because there are still enough funds," said Purbaya.
Purbaya also hopes the public remains calm and trusts the government's policies in navigating the world's turmoil. Moreover, Indonesia has previously experienced a surge in oil prices.
"We will see what the conditions are like. After a month, we predict what the oil prices will be like, so that we can make the right policy," said Purbaya. "Just trust me, I'm quite smart. We have experienced high oil prices several times, and the country didn't collapse, right? Why? Because the policies were right."
On a separate occasion, Bahlil affirmed that the fuel supply is reliable enough to meet public demand during Ramadan and Eid al-Fitr. He also guaranteed that the subsidized fuel, Pertalite, will not increase even if the world oil price exceeds US$118 per barrel.
Reported by Sputnik, the price of Brent crude oil reached US$118 per barrel for the first time since June 17, 2022. This figure is higher than the average oil prices in January 2026, when Brent (ICE) was at US$64 per barrel, and WTI was at US$57.87 per barrel.
Read: Indonesia: No Fuel Price Hike Until Eid Despite Crude Oil Surge
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