REPUBLIKA.CO.ID, JAKARTA -- The prices of non-subsidized fuel oils are likely to decline in January 2019 at the latest, Director General of Oil and Gas at the Energy and Mineral Resources Ministry Djoko Siswanto said. The fuel prices will be lowered after state oil and gas firm Pertamina reports the selling prices to the Energy and Mineral Resources Ministry.

However, the ministry has not received the report, he noted. "If Pertamina has not lowered the prices until January 2019, the ministry will notify the state-owned company," he stated here on Tuesday.

The prices of non-subsidized fuel oils will be lowered due to a decline in global crude prices. However, the government has not set the formula of price limits in detail.

Head of Petroleum Retail of PT AKR Corporindo, Muliady Jahja, remarked that the company has lowered the price of non-subsidized fuel oil of Akra 92 type by Rp100 to Rp9.8 thousand from Rp9.7 thousand per liter, along with a decline in global crude prices.

"We have adjusted the price of non-subsidized fuel oil of Akra 92 type as of December 1, 2018," he explained.

"Although the global crude prices tend to decline, they show actual fluctuation. We predict the global crude prices to still increase," he revealed.

He stated that he will always monitor fuel oil prices periodically. Whether the prices will go up or down will follow the market prices.

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