Indonesia's state oil company, pertamina, decided to reduce the price of non-subsidized fuel, following the weakening world oil prices. The price adjustment for non-subsidized fuel took effect Tuesday afternoon.
Minister of State-Owned Enterprises (BUMN), Erick Thohir, said Tuesday the price of Pertamax fuel would be lowered from IDR 13,900 per liter to IDR 12,800 per liter.
According to Erick, the first price adjustment was decided on Monday and took effect on Tuesday afternoon. The price adjustment for non-subsidized fuel follows market price trends and world crude oil prices.
In addition to Pertamax, the price of Pertamax Turbo has also been lowered to IDR 14,050 per liter from the previous price of IDR 15,200.
Erick explained that the price of non-subsidized fuel follows fluctuations in world oil prices, so regular evaluations are carried out following market trends and mechanisms.