2015-10-21: WRTG: NYMEX Light Sweet Crude: $45.89 (-1.37)
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2016-02-11: OPEC: Daily Basket Price: $25.21
Jum'at, 27 April 2018



The Decision for LPG and BBM Price

JAKARTA – The Minister of Energy and Mineral Resources (EMR), Sudirman Said attended the coordinating meeting in Coordinating Ministry of Economy, Thursday (3/24). The meeting was also attended by the Coordinating Minister of Economy, Darmin Nasution, the Minister of State-Owned Enterprise, Rini M. Soemarno, the Vice Minister of Finance, Mardiasmo, and also the President Director of PT Pertamina, Dwi Soetjipto. The coordinating meeting was meant to review the oil fuels (BBM) price, the Liquid Petroleum Gas (LPG) price, and also the initiation of strategic oil and gas reserves.

After the meeting, the Minister Sudirman told the media that the Government will be consistently review the BBM price every three months. “We will be consistent to review the BBM price every three months. So, by April 1st, 2016 we will issue the Minister’s Decree concerning the BBM price valid for April 1st to June 30th, 2016,” explained Sudirman.

Sudirman also affirmed that during the next three month period, the BBM price will decrease significantly. “Perhaps within one or two days ahead, we will set the number. However, we still have to maintain the stability to anticipate the Lebaran period next July in order not to increase significantly. So, we will formulate a-not too low price, but reaching the economical price,” explained Sudirman.

According to Sudirman Said, the LPG price will not increase or decrease. “The LPG benchmark price has been set and we know that it has been decreased. However, this is our opportunity to fix the margin price from the retail and the margin price to distributor to run a healthier business. So, the price will be stable and hopefully we could decided it as soon as possible,” affirmed the Minister Sudirman.

Concerning the Strategic Petroleum Reserve (SPR) as being mandated by the Law of Energy, the Minister of EMR explained the the Government starts allocating the State Budget-Amendment to realize this strategic fund and also Energy Security Fund (DKE). “We will discuss the matter with the producers to realize the plan because we need about two or three years to achieve 15 days reserves,” said the Minister. Ministry of EMR will also encourage Pertamina and enterprises to increase the amount of the reserves to strengthen national reserves. (AK)