VOI - Voice of Indonesia | RRI - Radio Republik Indonesia

The Indonesian Government through the Ministry of Energy and Mineral Resources announced the fuel price formula of the Non-Subsidized Fuel that will be channeled to all gas stations (SPBU) and Fishermen's gas stations (SPBU for fishermen). Director General of Energy and Mineral Sources at the Energy and Mineral Resources Ministry, Djoko Susanto reported to journalists on Sunday (Feb 10) in Jakarta that the fuel price formula helps Indonesia's state-owned energy company set the fuel price of the non-subsidized fuel category. The new fuel price formula is established based on the lowest margin namely 5% and the highest one which is 10%. Djoko Susanto told that the current conversion rates deployed are the middle exchange rate of Bank Indonesia and one barel equals to 159 liters.Djoko Susanto added that the adjustment of the fuel price aims to protect consumers as well as establish healthy and fair competition among fuel retailers so that fuel retailers will not take too many advantages. Djoko expressed his optimism that the formula could encourage fair competition among state energy holding companies so that the implementation of fuel business would bring justice.Through the new fuel price formula of non-subsidized fuel per liter, the price of fuel per liter has been reduced at a number of gas stations. On the same day, the state-owned petroleum company PT. Pertamina applied another price adjustment for the non-subsidized fuel price. Media Comminication of PT. Pertamina, Arya Dwi Paramita said a day before the implementation of the fuel price adjustment that the fuel price adjustment is conducted to respond to the global raw crude oil price trend and the strenghtening of the rupiah currency against the dollar currency.The reduction of the fuel price of the non-subsidized fuel will vary from Rp 50 per liter and Rp 800 per liter.Retail Marketing Director of PT. Pertamina, Mas'ud Khamid explained that in accordance to the government's regulation, Pertamina as the state-owned gas and oil company, Pertamina complies with the new fuel price policy based on the new fuel price formula set by the government.