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Jakarta, CNN Indonesia – PT Pertamin (Persero) answers public questions related to fuel prices (BBM) that never goes down, despite the price oil The world collapsed.
Pertamina’s CEO, Nicke Widyawati, explained that in formulating the determination of fuel prices, Pertamina used world reference oil prices in the last two months. That means determining April’s fuel prices using the February benchmark.
“If we count today, what we see is February, so prices are still high,” he said in a video conference on Thursday (4/30).
To take into account, business entities set sales prices in one month using the Mean of Platts Singapore (MOPS) or Argus average price reference for the 25th period in the two months prior to the 24th of the previous month.
This is established in the Decree of the Minister of Energy and Mineral Resources Number 62.K / 12 / MEM / 2020 on the Formula of the Basic Price in the Calculation of the Retail Price of Types of General Gasoline Fuel and Types of Distributed Solar Oil through Public Fuel Filling Stations and Fisherman’s Fuel Filling Stations.
However, Nicke admitted that there were anomalies in the prices of MOPS and Argus. The price of the two oil references is lower than the crude.
This means that Pertamina could buy fuel directly on the global market and close all its refineries because it is cheaper to buy fuel than crude oil.
However, the policy is certainly not adopted by the country’s oil companies. This is because the refinery’s operations are related to various aspects, including the cooperative contract contractor (KKKS) with the workers of the Pertamina refineries.
“Later, everyone will die, what will the KKKS produce? Covering upstream also needs costs, the reactivation will also need costs,” he explained.
On the other hand, although Pertamina has not adjusted the price of fuel, Pertamina has offered a cash discount (refund of money) for customers of the Pertamax and Dex series at 30 percent. Discounts are granted to customers who conduct non-cash transactions using state-owned company applications during the period from May 31 to June 16, 2019.
In addition to these factors, he explained that Pertamina was also experiencing pressure from the weakening of the rupee. The reason is that 93 percent of the company’s expenses use the US dollar exchange rate.
Not only that, he said that demand fell sharply. Nationwide, the demand for fuel has decreased by 25 percent. Even in large cities, the decrease in demand is more than 50 percent.
[Gambas:Video CNN]“That price is lower than the public’s estimate. Although demand has dropped, cash flow is negative, we are still spending in US dollars, but we have just released a 30 percent refund,” he said.Previously, the Committee for the Elimination of Leaded Gasoline (KPBB) evaluated that there were indications that the current price of fuel was too expensive, making it a burden on the community.
KPBB CEO Ahmad Safrudin said the root of the problem was the component in preparing the fuel price structure. This price structure is suspected to be the cause of the difficult decline in fuel prices even though world crude oil prices have fallen.
He compared BBM’s basic selling price (HPP) in Indonesia to be higher than other countries like Malaysia and Australia. In fact, the fuel quality in the two countries is better than Indonesia.
For example, for RON 95 with a maximum sulfur content of 10 ppm or the EURO 6 standard in Australia, the COGS is equivalent to Rp1,529 per liter. While the price at the service station is Rp8,376 per liter.
While in Indonesia, RON 98 has a maximum sulfur content of 50 ppm or the EURO 4 standard (Pertamax Turbo type) HPP actually reaches IDR 7,387 per liter. So, the sale price at the service station is Rp9,850 per liter.
“There is the potential for excessive cost margins enjoyed by fuel parasites like oil traders,” he said. (ulf / aug)
[Gambas:Video CNN]
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