TEMPO.CO, Jakarta – Indonesia will keep non-subsidized fuel prices unchanged for now despite soaring global oil prices, with state-owned energy company Pertamina temporarily absorbing the price gap, Finance Minister Purbaya Yudhi Sadewa said on Wednesday, April 1.
“For now, it seems Pertamina will bear it. For now, yes,” Purbaya said when met at Wisma Danantara Indonesia in Jakarta.
Purbaya said Pertamina is capable of absorbing the difference because the government has been making compensation payments to the company on a regular basis.
In Indonesia, compensation refers to funds paid by the government to state-owned enterprises such as Pertamina or PLN to cover the gap between government-set retail prices and the market-based economic prices of fuel and electricity tariffs.
In Pertamina’s case, the compensation is used to cover the difference in the selling price of Pertalite, a special assignment fuel product.
“Government payments are now running smoothly. We are consistently paying 70 percent of the compensation every month. So Pertamina’s financial condition is also very strong,” Purbaya said.
Earlier, State Secretary Prasetyo Hadi said the government had decided that fuel prices—both subsidized and non-subsidized—would not be increased.
In an official statement received in Jakarta on Tuesday, March 31, Prasetyo said the decision was made after coordination between the government, the Energy and Mineral Resources Ministry, and PT Pertamina, in line with instructions from President Prabowo Subianto.
The government also said national fuel supplies remain secure and sufficient, urging the public not to panic or be concerned by speculation over a possible price hike.
The decision comes as global oil prices have climbed sharply. Brent crude and West Texas Intermediate (WTI) were trading at around US$100 per barrel, significantly higher than the average oil price in January 2026, when Brent (ICE) stood at US$64 per barrel.
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