Responding to movements in crude oil prices, which reached US$103 per barrel for WTI and US$108 per barrel for Brent, Minister of Energy and Mineral Resources (ESDM), Bahlil Lahadalia said he has been working closely with the Minister of Finance under the direction of President Prabowo.

“We are continuously monitoring and closely following various developments in global dynamics, particularly the uncertainty surrounding global oil prices. But as of today, the government has decided to maintain subsidized fuel prices without any increase,” Minister Bahlil told reporters at the Ministry of Energy and Mineral Resources office in Jakarta on Friday, September 11, 2026.

He acknowledged that the government’s decision was not an easy policy to implement. Maintaining subsidized fuel prices means that the government will also have to bear a higher subsidy budget.

“However, President Prabowo believes that protecting and maintaining the purchasing power of lower- and middle-income communities is far more important, even if it means that we have to take various measures,” he stressed.

Earlier reports indicated that global oil prices had risen significantly again, reaching their highest level since May 2026.

Brent crude oil prices rose 6.3 percent to US$107.63 per barrel, while West Texas Intermediate (WTI) increased 6.7 percent to US$102.48 per barrel.

The increase is believed to have been driven by the escalating conflict between the United States (US) and Iran. Reports said the US and Iran have launched attacks against each other, while the Iran-backed Houthis attacked Saudi Arabia, triggering tensions in the Bab al-Mandab Strait.