Jakarta. The government has pledged to keep subsidized fuel prices unchanged through December 2026, as President Prabowo Subianto prioritizes price stability amid manageable energy supply and fiscal pressures.

Energy and Mineral Resources Minister Bahlil Lahadalia said the policy follows a direct directive from the president.

“Under the president’s instruction, subsidized fuel prices will not be increased until the end of the year, for as long as possible, God willing,” Bahlil said after a meeting at the Merdeka Palace in Jakarta, as quoted on Friday.

Bahlil said the decision reflects Indonesia’s secure energy supply, with current stock levels of diesel, gasoline, and LPG all above minimum thresholds, ensuring sufficient domestic availability.

He added that national energy security has been further supported by strengthened cooperation with Russia, including agreements on crude oil and LPG imports.

Still, the policy remains tied to movements in the Indonesian Crude Price (ICP), which is set at $70 per barrel in the 2026 state budget.

Bahlil noted that the average ICP since January has remained below $77 per barrel, suggesting fiscal pressure remains contained and does not yet warrant an adjustment in subsidized fuel prices.

“From January until now, the average ICP has not exceeded $77 per barrel. That means the increase is only about $7, so there’s no need to question where the funding comes from,” he said.

The government said it will continue monitoring global oil price movements to balance energy security and fiscal stability, while ensuring policies remain aligned with public interests.