PT Pertamina (Persero) has reduced the price of non-subsidized fuel, known as Pertamax CS. Meanwhile, the price of Pertalite remains unchanged at Rp 10,000 per liter.

Tutuka Ariadji, the Director-General of Oil and Natural Gas at the Ministry of Energy and Mineral Resources, stated that the economic price of Pertalite, or its original price, is Rp 2,000 higher. Roughly estimated, the original price of Pertalite is Rp 12,000 per liter.

"The difference could be around Rp 2,000," he said at the Ministry of Energy and Mineral Resources in Central Jakarta on Wednesday, November 1, 2023.

He hasn't seen any possibility of Pertalite prices decreasing. He mentioned that even with the decrease in the price of non-subsidized fuel, there hasn't been a noticeable shift of Pertalite users back to non-subsidized fuel.

He explained that oil prices are still unstable. When the Hamas-Israel conflict intensifies, oil prices actually decrease.

He elaborated on Saudi Arabia's significant role in controlling oil prices. Saudi Arabia reduces supply to stabilize prices. In certain circumstances, Saudi Arabia increases supply to lower prices.

"No, I believe this indicates that prices are still unstable. Indeed, when Hamas escalates, oil prices can drop," he said.

"So, what does this mean? It means that Saudi Arabia genuinely plays a role in maintaining price stability by reducing supply. Since yesterday, they have decreased supply, but at certain times, they will increase it. Therefore, the roles of Saudi Arabia and OPEC+ are crucial in determining this," he added.