Pertamina's latest price hike on non-subsidized fuels has hit Indonesian consumers, and the question on everyone's mind is: are we witnessing a necessary adjustment to market realities, or a short-sighted move that could backfire on the economy? The official line blames it on rising global crude oil prices—but let’s take a deeper look. Or is that only a smokescreen for global markets? Or is it a clever ploy to shift the weight of a gargantuan state budget onto the backs of mere mortals?

Global Crude Fluctuation Or Budget Relief?

Pertamina, like many SOEs, works under a specific kind of pressure. On one hand, when it comes to profits and efficiency, they are expected to act like a private enterprise. On the one hand, it’s seen as a shiny object that panders to progressive values and helps address social justice issues in policymaking. Pertamax, RON 92, is raised to Rp 12,500 from previously Rp 12,100. The price of Pertamax Turbo also increased, from Rp 13,050 to Rp 13,500. These increases are a direct consequence of the monthly re-evaluation tied to the whims of the world market for crude oil. Okay, fair enough. We are seeing volatility.

Just how much of this price hike is attributable directly to crude. How much is just the perfunctory scapegoat to provide a political cover easing the financial load on the state balance sheet? That’s the missing question no one is asking loudly enough. Subsidized Pertalite (RON 90) and Solar are still nominated as SPK 10. But those who need higher-octane fuels—more often businesses and middle-class consumers—feel more of an impact.

Think about it: transportation costs go up, manufacturing becomes more expensive, and suddenly, that bakso you enjoy on the weekend is a little pricier. That’s inflation, folks, and the most vulnerable bear the brunt of it. This isn't just about a few hundred Rupiah per liter. It's about the cumulative effect on the entire economic chain. Are we robbing long-term economic success in pursuit of short-term budgetary relief?

Hidden Impacts And Unexpected Connections

Here’s where things get even more interesting, and how my background in blockchain makes good sense. We're so focused on the immediate price at the pump, we're missing the bigger picture.

Imagine a future where the entire crude oil supply chain, from well to gas station, is tracked and verified on a blockchain. No more backdoor pricing structures, no more ability to game the system. Every transaction is transparent and auditable. This isn’t a pie-in-the-sky fantasy of the future, the technology is available right now.

  • Transparency: Blockchain could eliminate information asymmetry, ensuring fair pricing.
  • Efficiency: Streamlining the supply chain reduces costs and delays.
  • Accountability: Verifiable data reduces the risk of corruption and fraud.

Why are we not demanding more of this type of innovation? Why are we settling for a system where Pertamina can simply point to "global crude fluctuations" without providing granular, verifiable data to back it up? That lack of transparency fosters an environment of distrust, and that distrust, once allowed to spread, can poison faith in the entire economy. Almost as if… the secrecy serves a purpose.

Are We Really In This Together?

The government wants us to believe they’re acting on the basis of global geopolitical developments, like the ceasefire between Iran and Israel, to calm fuel pricing fluctuations. All of this is empty rhetoric if these agencies aren’t actively looking for long-term solutions. Monitoring is passive. Innovation is active.

Where are the investments in solar and other renewable energy technologies? Where is the push for energy efficiency? Where is their commitment to producing a real competitive energy market that’s not controlled by the state-owned monopoly.

Pertamina’s price hike isn’t just a calculated risk, it’s a calculated transfer of risk. The burden has simply shifted from the state budget to the pockets of ordinary Indonesians. That, my friends, is a very poor economic strategy. It's a recipe for resentment, for economic stagnation, and ultimately, for a society that feels increasingly like it's being taken for a ride.