JAKARTA — The government has confirmed there will be no increase in subsidized fuel prices in the near future, even as geopolitical tensions in the Middle East put pressure on global crude oil prices.

"For subsidized fuel prices, I can assure you that there will be no increase at all up until the holiday. Even if there is an increase in oil prices due to the war involving Israel, the United States, and Iran," said Energy and Mineral Resources Minister Bahlil Lahadalia at the Presidential Palace in Jakarta on Wednesday (March 4).

However, for non-subsidized fuel, Bahlil explained that price adjustments will continue to be determined by market mechanisms in accordance with the Minister of Energy and Mineral Resources Regulation No. 11 of 2022.

Regarding energy availability, Bahlil guaranteed that fuel and LPG stocks are in a safe condition to meet public needs ahead of Eid al-Fitr.

"We have anticipated that our fuel stocks ahead of Eid al-Fitr, God willing, are all secure, including LPG. So there is no need for any doubt, even though global dynamics are indeed occurring in Iran and Israel," Bahlil emphasized.

The government will continue intensive coordination across ministries and agencies until the end of the Eid holiday period to ensure that national economic activity and public mobility run smoothly without disruption. ***