Pertamina Has No Choice But to Raise Pertamax Prices

State-owned energy company PT Pertamina has been compelled to increase the price of its non-subsidized Pertamax fuel, citing unavoidable cost pressures from soaring global crude oil prices and a depreciating rupiah.

The adjustment, effective June 10, 2026, saw Pertamax (RON 92) rise from Rp12,300 to Rp16,250 per liter, and Pertamax Green 95 from Rp12,900 to Rp17,000 per liter. However, the prices for subsidized Pertalite and Biosolar remain fixed at Rp10,000 and Rp6,800 per liter, respectively.

Energy practitioner Hadi Ismoyo explained that Pertamina had little choice but to adjust the prices, a move also influenced by Presidential Regulation No. 26 of 2026, which tasks Pertamina with ensuring energy supply through necessary maneuvers. He noted the direct correlation between global oil prices, exacerbated by geopolitical conflicts, and domestic energy costs. The weakening rupiah further inflates the expense of importing energy.

Ismoyo highlighted the substantial financial strain Pertamina has been enduring to keep Pertamax prices artificially low. The company has reportedly been absorbing a loss of approximately Rp4,500 per liter, amounting to an annual burden of around Rp54 trillion given the consumption of 12 million kiloliters of Pertamax per year. This situation raises questions about potential government reimbursement through the state budget, as Pertamina requires robust cash flow to maintain national energy security by ensuring the supply of crude oil, fuel, and LPG.

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Harga BBM berkorelasi langsung dengan kenaikan crude internasional. Sejak day one Perang, harga naik fluktuatif di sekitaran 30 sampai 50 persen. Pertamina terpapar di dua front sekaligus, kenaikan crude dan kenaikan dolar dimana rupiah terus melemah.