During the March-July 2022 period, Shell fuel prices showed an upward trend, in line with the rise in global oil prices.
However, starting from August 2022 until now, prices have been steadily decreasing, as shown in the graph.
The following are the latest Shell fuel prices as of November 1, 2022 (Jakarta prices):
* Shell V-Power Nitro+ (RON 98): Rp14,560/liter
* Shell V-Power (RON 95): Rp14,210/liter
* Shell Super (RON 92): Rp13,550/liter
Meanwhile, starting November 2022, Shell V-Power Diesel (CN 51) is priced at Rp18,840/liter. This is more expensive than in September 2022, when it was Rp18,310/liter.
Throughout the third quarter (July-September 2022), global oil prices continued to decline.
However, in October 2022, the U.S. Energy Information Administration (EIA) projected that global oil prices could rise again because OPEC intends to cut oil production by 2 million barrels per day starting November 2022.