Global Oil Surge Fails to Move Indonesian Fuel Prices

Despite a significant jump in global crude oil prices, fuel stations operated by Indonesia's state-owned energy company Pertamina, along with private retailers Shell and BP, have maintained their current prices through the final week of July 2026. This stability offers a brief respite to consumers amidst volatile international energy markets.

Pertamina's official website indicates that retail fuel prices have held steady since July 1, 2026. The current rates include Rp10,000 per liter for subsidized Pertalite and Rp6,800 per liter for subsidized diesel. Higher-octane options are priced at Rp16,250 per liter for Pertamax (RON 92), Rp19,300 per liter for Pertamax Turbo (RON 98), and Rp17,000 per liter for Pertamax Green (RON 95). Diesel fuel prices are set at Rp19,700 per liter for Dexlite and Rp21,150 per liter for Pertamina Dex.

Private fuel retailers are also keeping their prices consistent. Shell stations, which experienced supply issues earlier in the year, are offering V-Power Diesel at Rp21,340 per liter, a price unchanged since July 1, 2026. Similarly, BP stations have maintained their pricing for gasoline products like BP Ultimate and BP 92, which compete with Pertamax and Pertamax Green. BP Ultimate is priced at Rp17,240 per liter, BP 92 at Rp16,670 per liter, and BP Ultimate Diesel at Rp21,340 per liter.

The domestic price stability contrasts sharply with global market fluctuations. Last Wednesday, global crude benchmark prices surged by over 3 percent, with Brent crude briefly breaching the $94 per barrel mark. Trading data showed September Brent crude contracts reaching $94.09 per barrel. By Monday, however, Brent crude prices had adjusted, settling around $85 per barrel. This global volatility underscores the potential for future price adjustments in Indonesia.