Jakarta. Indonesia will keep prices of subsidized fuel unchanged through the end of 2026 despite a sharp rise in global crude oil prices, Energy and Mineral Resources Minister Bahlil Lahadalia said.

“Until Dec. 31, 2026, regardless of the price in the world, we will not increase the price of subsidized fuel,” Bahlil said.

The current prices of subsidized fuel are Rp10,000 ($0.63) per liter for Pertalite and Rp6,800 per liter for BioSolar.

Bahlil said crude oil prices had climbed to around $106 a barrel, well above the $70-a-barrel assumption used in Indonesia’s 2026 state budget.

Average crude oil prices in Indonesia from January to September stood at around $85-$90 a barrel, Bahlil said. The increase could put additional pressure on the government’s energy subsidy bill.

The government is also seeking alternative sources of crude oil amid geopolitical tensions in the Middle East. Indonesia is looking beyond the region for supplies, including from African producers such as Angola.

Bahlil said Indonesia had also secured crude oil supplies from several countries, including Russia. He said the government’s main considerations were securing adequate supplies at competitive prices.

Keeping fuel prices stable remains a priority because of their impact on households and the wider economy, Bahlil said. The government is therefore working to prevent swings in global oil prices from being passed directly on to consumers.

He confirmed that the policy applies to subsidized fuel.

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