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Jakarta Post

Energy Ministry proposes revision of price formula for subsidized diesel

  • Norman Harsono

    The Jakarta Post

Jakarta   /   Mon, November 25, 2019   /  02:23 pm
The Jakarta Post Image
Gas pumps stand in a row at a gas station belonging to state-owned energy holding company Pertamina in Kuningan, South Jakarta.(The Jakarta Post/Seto Wardhana)

The Energy and Mineral Resources Ministry has submitted a proposal to the Finance Ministry on increasing the government payout to subsidized diesel distributors Pertamina and AKR Corporindo, so that the two companies would not incur l osses from distributing subsidized fuel. The ministry's oil and gas director general, Djoko Siswanto, said in Jakarta on Nov. 11 that the directorate had sent a proposal letter to the Finance Ministry on revising the price formula for subsidized diesel fuel. “The proposed change is in accordance with the Presidential Regulation. We have forwarded it to the Finance Ministry. Now, we wait,” he said, referring to Presidential Regulation No. 43/2018 on the supply, distribution and price of petroleum fuel. oil. The regulation authorizes the Energy Minister to adjust the distribution price formula for subsidized and non-subsidized fuel. ...