Ada Pertanyaan? Hubungi Kami 
2026 Hak Cipta Milik Hukumonline.com
Produk Pilihan
Ada Pertanyaan? Hubungi Kami Nadia Maharani, Kartini L. Makmur
Premium is a low-grade, subsidized fuel which was first introduced back in the days of President Soeharto and remains hugely popular at the country's petrol pumps due to its low price. However, Premium's low, 88-Octane rating has been pointed to as the cause of many problems, including engine damage and high emission levels.Moreover, Premium is subsidized via the national budget and sells for just IDR 7,400 per liter, which is significantly below its true market price of IDR 8,300 per liter. This subsidy currently results in a loss of approximately IDR 12 trillion per year.
In anticipation of further losses, PT Pertamina has requested that the government put in place a Fuel Stabilization Fund by 2016. According to Ahmad Bambang, state oil producer Pertamina’s Director of Marketing, current fuel sales are unable to cover the company's running costs, and so the new fund would be used to cover sales of Premium and to stabilize its price at the pumps.
“This stabilization approach is similar to the one that the government employs to govern the price of staple foods. At times when rice prices are high, the government utilizes special funds in order to cover its losses. The difference between subsidy and stabilization is that subsidies are ongoing and continuous, while stabilization programs are only brought into play when certain markets conditions prevail. We thus hope that fuel will be able to enjoy the same treatment as staple foods currently do in the country,” explained Bambang last Wednesday.
Bambang emphasized that Pertamina is in dire need of such a fund, as the company is finding it increasingly difficult to generate profits due to the current fluctuations in global oil prices and exchange rates.
“Although the global oil price is currently declining, 60% of our imported oil is still being transacted using US dollars. Given that the dollar exchange rate has recently dropped from IDR 12,000 to IDR 13,000, our losses are increasing and people should bear this in mind when questioning fuel subsidies in the country,” concluded Mr. Bambang.
Another solution to the subsidy problem is also being rolled out though. Billed as a win-win solution for both the Indonesian public and the state, Pertamina introduced a brand-new type of fuel, which it calls Pertalite, in July. This unsubsidized, 90-Octane rated fuel is currently being sold for only IDR 8,400 per liter, which places it between Premium and the 92 Octane Pertamax (unfavoured due to its high price) in the marketplace.
President Director of Pertamina, Dwi Soetjipto, stated recently that hopes are high that Pertalite will be able to cover IDR 3 trillion of Pertamina's current losses. In order to achieve this objective, Pertamina’s target is to persuade 30% of existing Premium users to switch to Pertalite.
“We are currently unable to generate much profit, however we will be able to minimize the losses that we incur through sales of Premium if 30% of consumers make the switch over to Pertalite. According to our calculations, we should be able to wipe out IDR 3 trillion of our current losses,” explained Mr. Soetjipto.
The results of a recent survey suggest that around 20-30% consumers would change their fuel of choice if the margin of difference between Premium and Pertalite was under IDR 900 per liter. Meanwhile, sales of Pertalite have ramped up to 13% of Pertamina's total income from private fuel consumption in the month since it was introduced, and the price difference of just IDR 900 per liter between Pertalite and Premium seems to be sitting quite well with consumers.
“It is hoped that Pertalite will be able to cover Premium's losses until Premium reaches the current market price, or is at least priced just a little below Pertalite,” stated Mr. Soetjipto.
(hot/ja/sp)
Nadia Maharani, Kartini L. Makmur
Premium is a low-grade, subsidized fuel which was first introduced back in the days of President Soeharto and remains hugely popular at the country's petrol pumps due to its low price. However, Premium's low, 88-Octane rating has been pointed to as the cause of many problems, including engine damage and high emission levels.Moreover, Premium is subsidized via the national budget and sells for just IDR 7,400 per liter, which is significantly below its true market price of IDR 8,300 per liter. This subsidy currently results in a loss of approximately IDR 12 trillion per year.
In anticipation of further losses, PT Pertamina has requested that the government put in place a Fuel Stabilization Fund by 2016. According to Ahmad Bambang, state oil producer Pertamina’s Director of Marketing, current fuel sales are unable to cover the company's running costs, and so the new fund would be used to cover sales of Premium and to stabilize its price at the pumps.
“This stabilization approach is similar to the one that the government employs to govern the price of staple foods. At times when rice prices are high, the government utilizes special funds in order to cover its losses. The difference between subsidy and stabilization is that subsidies are ongoing and continuous, while stabilization programs are only brought into play when certain markets conditions prevail. We thus hope that fuel will be able to enjoy the same treatment as staple foods currently do in the country,” explained Bambang last Wednesday.
Bambang emphasized that Pertamina is in dire need of such a fund, as the company is finding it increasingly difficult to generate profits due to the current fluctuations in global oil prices and exchange rates.
“Although the global oil price is currently declining, 60% of our imported oil is still being transacted using US dollars. Given that the dollar exchange rate has recently dropped from IDR 12,000 to IDR 13,000, our losses are increasing and people should bear this in mind when questioning fuel subsidies in the country,” concluded Mr. Bambang.
Another solution to the subsidy problem is also being rolled out though. Billed as a win-win solution for both the Indonesian public and the state, Pertamina introduced a brand-new type of fuel, which it calls Pertalite, in July. This unsubsidized, 90-Octane rated fuel is currently being sold for only IDR 8,400 per liter, which places it between Premium and the 92 Octane Pertamax (unfavoured due to its high price) in the marketplace.
President Director of Pertamina, Dwi Soetjipto, stated recently that hopes are high that Pertalite will be able to cover IDR 3 trillion of Pertamina's current losses. In order to achieve this objective, Pertamina’s target is to persuade 30% of existing Premium users to switch to Pertalite.
“We are currently unable to generate much profit, however we will be able to minimize the losses that we incur through sales of Premium if 30% of consumers make the switch over to Pertalite. According to our calculations, we should be able to wipe out IDR 3 trillion of our current losses,” explained Mr. Soetjipto.
The results of a recent survey suggest that around 20-30% consumers would change their fuel of choice if the margin of difference between Premium and Pertalite was under IDR 900 per liter. Meanwhile, sales of Pertalite have ramped up to 13% of Pertamina's total income from private fuel consumption in the month since it was introduced, and the price difference of just IDR 900 per liter between Pertalite and Premium seems to be sitting quite well with consumers.
“It is hoped that Pertalite will be able to cover Premium's losses until Premium reaches the current market price, or is at least priced just a little below Pertalite,” stated Mr. Soetjipto.
(hot/ja/sp)