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Jakarta Post

Pertamina to follow Shell in seeking fuel price hike

  • Stefanno Reinard Sulaiman

    The Jakarta Post

Jakarta   /   Thu, May 17 2018   /  02:14 am

State-owned energy giant Pertamina will soon propose to the government new prices for its commercially sold gasoline products amid an upward trend in global crude oil prices that have exceeded US$70 per barrel.As of Wednesday, the price of global benchmark Brent crude was $77.91 per barrel, up from price as little as $44.82 per barrel in June last year.Pertamina acting president director Nicke Widyawati confirmed on Wednesday that the company would propose a new price for its gasoline. However, it is still in internal discussions.“We will propose it, but currently our main focus is to serve society ahead of Ramadhan,” she briefly said, referring to the Islamic fasting month, which starts Thursday. Separately, Pertamina corporate secretary Syahrial Mukhtar said the firm was in consultations with the government regarding an increase in its gasoline prices.“We are part of the governme...