[Economics] This is the reason for Pertamina to increase fuel prices as of August 3, 2022

[Zombie™]

PT Pertamina (Persero) explained the reason for his party to increase the price of non-subsidized fuel oil (BBM) for the types of Pertamina Dex, Dexlite and Pertamax Turbo. Pertamina believes that the increase in non-subsidized fuel prices will not have a serious impact on people's purchasing power. The reason is that the three types of non-subsidized fuel only target 5 percent of Pertamina's customers nationally. Pertamina Patra Niaga Corporate Secretary Irto Ginting explained that the increase in the price of some commercial products was due to the Indonesian crude price (ICP) being held high until the middle of this year. Based on Pertamina's records, the average ICP price per July 2022 is in the range of US$106.73 per barrel or 24 percent higher than the position in January 2022.

"July ICP is still high, and Pertamina's non-subsidized fuel prices are still far from the economic price," he said. As is known, Pertamina increased the price of Pertamax Turbo (RON 98) from Rp. 16,200-16,500 to Rp. 17,900-Rp. 18,250. Meanwhile, the price of Dexlite from Rp. 15,000-15,700, has now become Rp. 17,800-18,150, while the price of Pertamina Dex from Rp. 16,500-17,200 has now increased to Rp. 18,900-19,600. Pertamina's commercial fuel price adjustment applies to the DKI Jakarta area or areas with a motor vehicle fuel tax (PBBKB) of 5 percent. This price is valid from August 3, 2022.

Source : https://ekonomi.bisnis.com/read/20220803/44/1562540/ini-alasan-pertamina-naikkan-harga-bbm-per-3-agustus-2022