Pertamina Claims Loss Rp 3.9 Trillion Impacts BBM Not Increase

By : Ahmad Fadhli And Aldo Bella Putra | Tuesday, March 20 2018 - 19:00 IWST - Jakarta - PT Pertamina (Persero) recorded loss revenue from the sale of fuel oil (BBM) of Premium and Solar type until February 2018 amounting to Rp3.9 trillion. This is because there is no adjustment of fuel prices until 2019.
In a hearing with Commission VII of the House of Representatives (DPR), Pertamina's Marketing Director Muchamad Iskandar said the company has recorded the potential for additional cost of Premium and Solar fuel to February 2018.
"In the formula of potential loss from January to February, Premium and Solar assignment excluding JBU (General Fuel Type) in Java is worth Rp3.49 trillion.It is only two months, plus Premium selling in Jamali reaches Rp3.9 trillion," he said, meeting of Commission VII, Jakarta, Monday (19/3/2018).
Iskandar continued, the potential for this loss in the future will increase. Where the world oil price projection at the level of USD60 per barrel can last until the end of the year.
"Estimated until December, the same price is approximately the same multiplier, not 5-7% during Lebaran due to Premium and Solar increase," he said.
He continued, the company has calculated the potential loss of revenue against the determination of the current Premium and Solar fuel price formulas.
"So for Premium based on the basic price of Rp8,302 per liter plus 8% of RON 88 fuel price should be Rp8.600 per liter for April to June, while the reality is still at Rp6.450, so there is a difference of Rp2.150 per liter," he said .
As for Solar, Iskandar said, with a fixed subsidy of Rp500 per liter, formula 102.30 HIV plus Rp900 per liter, after the subsidized subsidized price should be Solar Rp8.350 per liter. "Currently valid Rp5.150 per liter, this includes Rp500.Here there is difference Rp3.200 per liter," he said.
Previously, Iskandar said Premium based on the basic price of Rp8,302 per liter plus 8%, should the price of RON 88 fuel is Rp8.600 per liter for the period April to June.
As for Solar, Iskandar said, with a fixed subsidy of Rp500 per liter, formula 102.30 HIV plus Rp900 per liter, after deducting subsidies, the price of diesel should be Rp8.350 per liter.
The government has also increased subsidized fuel oil (BBM) type of Solar. The current subsidy amounts to Rp1,000 per liter from the previous Rp500 per liter.

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