Gotrade News - Indonesia's Energy Minister Bahlil Lahadalia confirmed that subsidized fuel prices will remain stable despite surging global oil prices. The government is also targeting the first shipment of Russian crude oil to arrive in Indonesia this month as part of an energy diversification push.
Key Takeaways:
- Subsidized fuel prices held steady; non-subsidized fuel adjustment under review
- Russian crude oil shipment targeted for April 2026 following Prabowo's Moscow visit on April 13
- Indonesia imports 8.4 million tons of LPG annually, with 70-75% historically sourced from the US
Bahlil stated that Russian crude shipments are nearly ready to proceed. "Crude oil could be shipped to Indonesia this month," Bahlil said, as reported by Kumparan.
The deal follows negotiations during President Prabowo Subianto's visit to Russia on April 13, 2026. Bahlil emphasized the urgency of diversifying energy sources amid escalating Middle East tensions that threaten traditional supply routes.
LPG Imports Still Heavily Dependent on US
LPG imports from Russia remain in the finalization stage. Indonesia's 2026 LPG demand is projected at 10 million tons, while domestic production covers only 1.6 million tons, leaving an 8.4 million ton gap.
Currently, 70-75% of Indonesia's LPG imports come from the United States and 20% from the Middle East. Diversifying to Russian suppliers is a strategic move to reduce single-source dependency, according to Bahlil's remarks to SINDOnews.
Non-Subsidized Fuel Price Adjustment Pending
Regarding non-subsidized fuels like the premium Pertamax lineup, Bahlil acknowledged that pricing discussions are nearly complete. "We just need to determine when the adjustment happens," he said.
Since early April 2026, Pertamina and private fuel station operators have held prices steady despite Brent and WTI trading at $90-100 per barrel. The price freeze follows a direct directive from President Prabowo, with state-owned Pertamina absorbing the cost differential temporarily.
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