Why Haven’t Fuel Prices Gone Down Amid Crude Meltdown?


Public fuel station (SPBU) operators have yet to cut fuel prices even though the global crude prices had crashed below US$ 30 per barrel in the last two weeks, including PT Pertamina. The state-owned oil company is still selling non-subsidized fuel like Pertamax RON 92 at Rp 9,000 per liter, and Pertamax Turbo Ron 98 at Rp 9,800 a liter.

So does PT Shell Indonesia, which sells Super Ron 92 at Rp 9,150 per liter, while the V-Power RON 95 variant is still sold at Rp 9,650 a liter. Shell Indonesia Vice President of External Relations Rhea Sianipar said the company is committed to comply with the rules and collaborate with the government and all stakeholders. That is why Shell still keeps fuel prices steady.

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