REPUBLIKA.CO.ID, JAKARTA -- The Ministry of Energy and Mineral Resources (ESDM) has indicated that the prices of biofuels (BBN) will increase this month. The market price index (HIP) of BBN this month is higher as compared to the price in the previous month based on the Letter of the Director General of New and Renewable Energy (EBTKE) No. 1802/12/DJE/2018.
The price of biodiesel was set at Rp8,356 per liter and does not yet include the transportation cost, which was earlier set by ESDM Minister No. 2026/K/12/MEM/2017. The HIP of BBN increased by Rp195 per liter as compared to that in last March.
Based on data of the ESDM ministry, the biodiesel price rose due to fluctuations in the crude palm oil (CPO) prices that continue to increase.
Over the last month, the price increased by Rp201 per kilogram (kg). Earlier, the price of CPO was set at Rp8,029 per kg during the period between Jan 25 and Feb 24.
It then increased to Rp8,230 per kg during the period between February 24 and March 24, 2018.
Along with the increase in the price of biodiesel, the HIP of bioethanol in April 2018 also rose slightly as compared with the HIP last month. The price of bioethanol in April amounted to Rp10,140 per liter, while the price of bioethanol in March had reached Rp10,083 per liter, thereby recording a price hike of Rp57 per liter.
The increase in the price of bioethanol is a result of the fluctuations in the exchange rate of the US dollar, although the drop in the average price of molasses in the Kharisma Joint Market remained unchanged.
The HIP of BBN is set every month and is evaluated for at least six months by the Director General of EBTKE.
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