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

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

"The difference is approximately Rp 2,000," he disclosed at the Ministry of Energy and Mineral Resources in Central Jakarta on Wednesday (1/11/2023). He mentioned that they have not seen the possibility of a Pertalite price reduction. He explained that despite the decrease in non-subsidized fuel prices, there has been no observed migration of Pertalite users back to non-subsidized fuels.

According to Tutuka, oil prices are still not stable. Even when the conflict between Hamas and Israel intensifies, oil prices tend to decrease.

He stated that Saudi Arabia plays a significant role in controlling oil prices. Saudi Arabia reduces supply to maintain prices. In certain circumstances, Saudi Arabia increases supply to lower prices.

"I believe that this shows that oil prices are still not stable. Even with escalating tensions in the Middle East, oil prices can decrease," he said.

"So, this means that Saudi Arabia truly plays a role in keeping supply in check, reducing it for the sake of price stability. They have reduced supply for some time, but at certain times, they can increase supply. Therefore, the role of Saudi Arabia and OPEC+ is influential in determining oil prices," he added.