OIL PRICE - JAKARTA. The escalating conflict in the Middle East between Iran and Israel has sparked concerns over the potential rise in fuel oil or gasoline prices among the public.
In response to these concerns, according to Infopublik.id, the government has assured that there will be no increase in gasoline prices until June 2024.
"Until June 2024, there will be no increase (in gasoline prices), that's the government's statement," said Coordinating Minister for Economic Affairs, Airlangga Hartarto, in Jakarta on Tuesday (16/4/2024).
However, Airlangga added, that the government will continue to monitor the situation to adjust the energy subsidy budget if necessary. This development will be monitored over the next 1-2 months.
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"We monitor the oil prices. We continue to exercise and we maintain so that the existing resources can be utilized. Of course, the targeted subsidy becomes a note for the government," Airlangga continued.
Airlangga hopes that oil prices can remain stable. However, he acknowledges that oil prices are certain to rise if the escalation of conflict in the Middle East continues to heat up.
"We look at the situation over the next 1-2 months. So if there is no escalation, we hope that oil prices can flatten. But if there is an escalation, it will certainly be different," he added.
As known, the conflict in the Middle East is currently escalating with hundreds of Iranian drone attacks on Israel on Sunday (14/4/2024) in retaliation for an Israeli attack that destroyed the Iranian Consulate building in Damascus, Syria, on Monday, April 1, 2024.
