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ARTICLE · 17 JANUARY 2024

New Basic Price Formula For Certain Types Of Fuel Oil

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On December 8, 2023, the Minister of Energy and Mineral Resources (the "MEMR") issued Decree No. 439.K/MG.01/MEM.M/2023 of 2023 on the Basic Price Formula for Certain Types of Fuel Oil ("Decree 439/2023").

IndonesiaEnergy and Natural Resources
Johannes C. Sahetapy Engel
Johannes C. Sahetapy Engel
Ammarsyarif G. Goenawan
Ammarsyarif G. Goenawan

On December 8, 2023, the Minister of Energy and Mineral Resources (the "MEMR") issued Decree No. 439.K/MG.01/MEM.M/2023 of 2023 on the Basic Price Formula for Certain Types of Fuel Oil ("Decree 439/2023"). Decree 439/2023 revokes the MEMR Decree No. 148 K/12/MEM/2020 of 2020 on the Basic Price Formula for Certain Types of Fuel Oil and Specific Types of Fuel Oil for Assignments ("Decree 148/2020").

Under Decree 439/2023, it is stipulated that the basic price formula for certain types of fuel oil determined by the MEMR is as follows:

  1. For Kerosene with a formula of 102.49% (one hundred two point forty nine percent) Kerosene Market Index Price + Rp263.00/liter (two hundred sixty three Rupiah per liter); and

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