Jakarta. Indonesia is mulling slashing the price of non-subsidized fuel, although this decision hinges on global oil prices.

Last month, Indonesia raised the non-subsidized fuel, Pertamax, prices by around 32% to Rp 16,250 ($0.91) per liter, a move that many analysts fear could take a toll on the country’s middle class. The price hike also came after the US-Iran war led to a global energy crunch. According to Energy Minister Bahlil Lahadalia, the government is now keeping an eye on global oil price downtrends. 

“I have made my calculations. I will soon gather representatives from [the state energy giant] Pertamina and other businesses. If global oil prices drop, we will adjust the prices,” Bahlil told the press at the state palace in Jakarta on Monday, as reported by the state news agency Antara.

He went on to say that the government would strike a balance of not burdening both the non-subsidized group and the oil businesses. The government will also make a careful decision, citing fluctuating global oil prices. Bahlil also assured the public that there would be no price hikes for the subsidized fuel.

The world has seen the crude benchmark Brent consistently breaking the $100-per-barrel barrier since tensions in the Middle East erupted in late February. Amid peace talks, Brent has eased to $88 per barrel on Tuesday.