Pertamax Prices could Decline Alongside Global Oil Prices, Says Purbaya

Jakarta: Finance Minister Purbaya Yudhi Sadewa believes that the price of Pertamax fuel could fall as global oil prices continue to decline.
 
“I am confident that with declining global oil prices, the prices of Pertamax and other fuels will also fall, strengthening the foundations of our economic growth,” Purbaya remarked in a meeting with the Regional Representative Council (DPD) in Jakarta, as reported by Antara on Monday, June 22, 2026.
 
Purbaya explained that the prospect of a peace agreement between the United States (US) and Iran boosted optimism in the global economy.
 
If such an agreement is reached, he said, Indonesia may see the rupiah exchange rate stabilize, the cost of funds lower, and investment strengthen.
 
“That should see our growth momentum improve going forward. One of the pressures we have been faced is when global oil prices rise, we are forced to raise some non-subsidized fuel prices, even though we continue to maintain subsidized fuel prices,” he said.
 

Finance Minister’s Expectations for Global Oil Prices

Purbaya acknowledged that increases in non-subsidized fuel prices have placed pressure on Indonesian households. However, he said that recent economic indicators suggest conditions are improving.
 
“Based on the data we are seeing now, it appears that we have weathered the roughest patch. Moving forward, we will look to strengthen our economic foundations. With such improvements, we will be able to grow more optimally,” he explained.
 
Reflecting on the first half of 2026, Purbaya believes that the Indonesian economy will continue to demonstrate strong resilience amidst global economic uncertainty.
 
Economic growth in the first quarter of 2026 reached 5.61 percent, whilst inflation remained low. The trade balance posted a surplus for the 72nd consecutive month through April 2026, and foreign exchange reserves stayed at an adequate level. Credit distribution remained in the double digits, as the manufacturing sector returned to the expansionary zone.
 
These indicators have led Purbaya to believe that market confidence in Indonesia is beginning to strengthen.
 
(Jonathan Sianto)