Jokowi’s New Fuel Regulation Will Reduce Pertamina’s Losses

  • Share


Jakarta, ONENEWS.MY.ID – President Joko Widodo (Jokowi) has just issued Presidential Regulation (Perpres) No. 117 of 2021 concerning the Third Amendment to Presidential Regulation No. 191 of 2014 concerning the Supply, Distribution, and Retail Selling Price of Fuel Oil (BBM).

This regulation was stipulated by President Jokowi on December 31, 2021 and has been in effect since it was promulgated on the same date, namely December 31, 2021.

This Presidential Regulation is considered to be made as a basis for the government to be able to provide compensation to PT Pertamina (Persero) for the sale of Pertalite or RON 90 gasoline.

As is known, the economic price of Pertalite gasoline should have been above Rp. 11,000 per liter, but until now it is still being suppressed at Rp. 7,650 per liter.

This was stated by INDEF economist Abra Talattov. Abra said that the basis for this compensation can be seen in Article 21B where the government will provide compensation for RON 88 gasoline which is a mixture of 50% of RON 90 gasoline or Pertalite. Please note, RON 90 or Pertalite gasoline is a mixture of 50% Premium gasoline (RON 88) and 50% RON 92 or Pertamax.

Although the compensation is not fully given, but only for the RON 88 component, according to him, this can reduce the burden on Pertamina, which is still selling Pertalite below the economic price.

“Actually, this regulation is intended to reduce Pertamina’s burden. Although it does not cover all losses to business entities, it will reduce the burden on business entities,” he told ONENEWS.MY.ID, Monday (03/01/2021).

According to him, this Presidential Regulation will not have a direct impact on the public or on selling prices at Public Fuel Filling Stations (SPBU), because it is more about reducing the burden on fuel production costs at Pertamina’s refineries for Pertalite production.

In this Presidential Regulation, it is stated that RON 88 gasoline which is 50% of the Pertalite gasoline mixture will be applied as a Special Assignment Fuel Type since June 1, 2021. This means that this compensation will also be given for sales starting June 1, 2021.

“This is indeed more for providing compensation at the refinery, not downstream or the price in the community. The price in the community will not be affected, but this has meaning for business entities,” he explained.

Ahmad Redi, a legal expert from Tarumanegara University, said the same thing. According to him, based on Article 21B of this Presidential Regulation, the only compensation given is RON 88 or Premium gasoline, which is 50% of the blending of RON 90 gasoline.

“If you read Article 21B, then compensation is only given to Premium,” he said.

The following is the full text of Article 21B of Presidential Regulation No.117/2021:

(1) In order to support clean and environmentally friendly energy, the type of gasoline (gasoline) RON 88 which is 50% of the volume of the type of gasoline RON 90 provided and distributed by the Business Entity receiving the assignment shall be treated as a Type of Special Fuel Assignment from June 1, 2021 until determined by the Minister as referred to in Article 3 paragraph (4).

(2) Basic price formula, market index price, and retail selling price of gasoline type fuel oil (gasoline) RON 88 as a component of fuel oil forming the type of gasoline (gasoline) RON 90 as referred to in paragraph (1) refers to the provisions on the type of gasoline (gasoline) RON 88 as a Special Assignment Fuel Type,

(3) The Regulatory Body shall verify the volume of the Special Assignment Fuel Type as referred to in paragraph (1).

(4) Inspection and/or review of the calculation of the volume of the Special Fuel Type Assignment of the type of gasoline (gasoline) RON 88 as referred to in paragraph (1) is carried out by an authorized auditor.

(5) Based on the results of the examination and/or review of calculations by the auditor as referred to in paragraph (4), the minister who administers government affairs in the field of state finances shall determine the compensation payment policy after coordinating with the minister and minister in charge of government affairs in the field of state-owned enterprises. .

(6) The compensation payment policy as referred to in paragraph (5) is implemented in accordance with the state’s financial capacity.

(7) The Regulatory Body shall determine the Assignment to the Business Entity receiving the assignment for the supply and distribution of the Special Assignment Fuel Type as referred to in paragraph (1).

[Gambas:Video CNBC]

(wia)


.

  • Share

Leave a Reply