World crude oil prices have risen following Israel’s attack on Iran and subsequent Iran’s counterattack on Israel, with the Brent crude futures being pushed to trade above US$90 after closing 1.1 percent higher on April 10, 2024, while the West Texas Intermediate (WTI) prices approached US$86.
PT Pertamina Patra Niaga President Director, Riva Siahaan, said geopolitical tensions and OPEC+ supply cuts have lifted global oil prices this year by nearly 18 percent that Pertamina Patra Niaga would continue to maintain national fuel supply and price stability.
“The tendency of crude oil prices to rise, but we would ensure that the national fuel supply is in a safe condition. We are also committed to keeping domestic fuel prices stable so as not to impact inflation and people’s purchasing power,” Riva said.
He said further that Pertamina took the policy of maintaining prices even though the cost of fuel production increased along with the increase in world oil prices.
“As a state-owned company, we support the Government’s efforts to maintain a more stable and conducive national economy,” Riva said.
In the midst of these conditions, he continued, Pertamina Patra Niaga also ensures that national fuel supply is safe during the Ramadhan and Idul Fitri (RAFI) period. Supply is available at a much higher level to anticipate spikes in demand during the Idul Fitri homecoming and return travel flows. Currently, Pertalite stock is recorded at the level of 20 days, Pertamax 41 days, Pertamax Turbo 58 days, Solar and Biosolar 22 days, Pertamina Dex 70 days and Avtur 41 days.
“Additional supply during the RAFI Task Force period has been prepared since the last Christmas and New Year Task Force to ensure national needs are well met,” Riva said.
Pertamina Patra Niaga Corporate Secretary, Irto Ginting, added that after meeting the needs of oil fuels and LPG during the homecoming flow, Pertamina Patra Niaga was still on standby to prepare the needs of the community after the Idul Fitri holiday and the return flow.
“The RAFI Task Force continues to be on standby and the fuel needs of travellers are Pertamina Patra Niaga’s concern to ensure that people can travel safely and smoothly,” Irto said.
