Inp.polri.go.id - Jakarta.  Coordinating Minister for Economic Affairs Airlangga Hartarto assured that fuel prices will remain unchanged until at least June 2024, despite the Iran-Israel conflict's potential disruption to supplies and global oil price increases.

"The government's stance is clear: fuel prices will not rise until June," he said on Tuesday (16/4/24).

He emphasized the significant impact of the Iran-Israel conflict on global oil price volatility, particularly due to its proximity to the vital logistics route, the Strait of Hormuz.

While monitoring the conflict's developments, the government is considering policy adjustments, including fuel subsidy revisions, pending budget calculations and realignment.

Minister Airlangga stressed the importance of not overreacting to current global geopolitical tensions, instead prioritizing careful monitoring of global oil prices and ensuring subsidies reach their intended recipients.

The government will continue monitoring global oil prices for the next one or two months before deciding on any subsidy adjustments, hoping for stability as the conflict diminishes.

"If there is an escalation, the situation will warrant a different approach," Minister Airlangga added.

(mg/ndt/pr/nm)