Jakarta, CNBC Indonesia – Minister of Investment/Head of the Investment Coordinating Board (BKPM) Bahlil Lahadalia, on Friday (12/8/2022) in his office, gave a signal of an increase in the price of fuel oil (BBM) in the near future. That is if, if the government is not strong enough to hold down the price of world crude oil, which tends to continue to rise.
Bahlil said that the price of Indonesian crude oil (ICP) in the 2022 State Budget was set at US$ 63 per barrel, while the average oil price in January – July has crossed US$ 105 per barrel. Meanwhile, if the current oil price is at the level of US$ 100 per barrel, the value of subsidies that must be issued by the government can reach Rp 500 trillion.
However, if the oil price is at the level of US$ 105 per barrel assuming the dollar exchange rate in the APBN is an average of Rp. 14,750 and the Pertalite quota increases to 29 million Kilo Liters (KL) from the quota of 23 million KL, the subsidies that must be borne by the government can penetrate. up to Rp 600 trillion.
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“I conveyed how long our state budget will be strong in facing higher subsidies, so friends, please also convey to the people that it feels like holding on to fuel prices like now, my feeling is that we must be prepared if, say, the increase in fuel prices occurs. ,” said Bahlil at the Ministry of Investment Building, Friday (12/8/2022).
Furthermore, Bahlil said the subsidy value of Rp 500-600 trillion was equal to 25% of the total state budget revenue. So if it continues, it will be unhealthy for state finances.
“In Papua, high fuel prices are common in Papua. If I was in Papua the price of Rp. 19,000 fuel was never noisy, we are in Papua.
Responding to this, the Corporate Secretary of PT Pertamina Patra Niaga, Irto Ginting, stated that regarding the signal for an increase in subsidized fuel prices, for example, his party handed it over to the government. “We’re just waiting for the government’s decision,” explained Irto to CNBC Indonesia, Sunday (14/8/2022).
As is known, the type of RON 90 or Pertalite fuel is a Special Assignment Fuel Type (JBKP), as a result of which the price is determined by the government. Not only Pertalite, subsidized diesel fuel which is included in the Specific Fuel Type (JBT), the price is determined by the government.
“For subsidized fuel prices, it is the authority of the Government. We as operators will carry out what is assigned by the regulator,” said Irto.
Previously, the Minister of Energy and Mineral Resources (ESDM) Arifin Tasrif ensured that Pertalite fuel would not undergo an adjustment or increase in price. Especially in line with the current world crude oil price which is still quite high.
The government, he said, will temporarily maintain the price of Pertalite fuel at the level of Rp 7,650 per liter. However, he appealed to the entire community to be wiser in consuming fuel.
“We maintain this Pertalite, while maintaining it. Only this first step we must be able to urge the public to save energy,” he said when met at the Ministry of Energy and Mineral Resources Building, Thursday (11/8/2022).
While urging the public to be frugal in consuming fuel, the government will soon finalize the revision of Presidential Regulation (Perpres) No. 191 of 2014 concerning the Supply, Distribution and Retail Selling Price of Oil Fuel. That way, restrictions on the purchase of Pertalite fuel and subsidized diesel can be implemented immediately. “We will also immediately revise the Presidential Regulation 191,” he said.
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