The global increase in crude oil prices above US$60 per barrel has driven up the price of fuel throughout 2018. Several Public Fuel Filling Stations (SPBU) companies have increased retail fuel prices to maintain their economic value.
Performance 92 fuel at Total gas stations recorded the highest price increase throughout 2018. Based on data from the Upstream Oil and Gas Regulatory Agency (BPH Migas), the price of this 92-octane fuel was set at Rp 9,150/liter on February 16, 2018, representing an increase of Rp 800 from its year-end price of Rp 8,350/liter. The second-largest price increase was seen in Pertamax Turbo with RON 98 (Pertamina), increasing by Rp 750/liter to Rp 10,100.
In February 2018, Pertamina officially raised the prices of non-subsidized fuels such as Pertamax, Pertamax Turbo, Pertamina Dex, and Dexlite, following the global increase in crude oil prices. For information, the price of WTI crude oil had exceeded US$63/barrel, and Brent crude was at US$67/barrel.