Jakarta: Three fuel suppliers, PT AKR Corporindo Tbk, PT Shell Indonesia and Total Oil Indonesia, have lowered retail sales prices in advance compared to PT Pertamina (Persero).
"It has been lowered," said Acting Director General of Oil and Gas (Migas) Ministry of Energy and Mineral Resources (ESDM) Djoko Siswanto at BPK headquarters, Central Jakarta on Monday, January 6, 2020.
Djoko said the reduction in fuel prices by business entities was based on the Decree of the Minister of Energy and Mineral Resources No. 187 K / 10 / MEM / 2019 regarding the formula for the retail sale prices of gasoline and diesel oil that is distributed through public refueling stations (SPBU) and / or fisherman refueling stations (SPBN) which took effect on January 1, 2020.
According to him, AKR in partnership with a British company BP adjusted prices on Tuesday, December 31, 2019, Shell reduced fuel prices on Wednesday, January 1, 2020, while Total lowered fuel prices on Friday, January 3, 2020
The price decline was affected by several conditions such as global oil price movements, taxes, subsidies, logistics, local conditions, environmental regulations, and operational costs.
Pertamina reduced the prices of Pertamax Series and Dex Series last week. The policy was effective from Sunday, January 5, 2020.