Indonesia monitors US-Iran peace deal impact on fuel prices

Jakarta (ANTARA) - The Indonesian government is closely monitoring the impact of the newly signed peace agreement between the United States and Iran on domestic fuel price adjustments, particularly non-subsidized fuel.

Coordinating Minister for Economic Affairs Airlangga Hartarto noted that the anticipated reopening of the strategic Strait of Hormuz will be a primary factor considered during the evaluation of domestic fuel pricing.

"With the reopening of the Strait of Hormuz, we will see price adjustments again," Airlangga said at the Presidential Palace Complex here on Thursday (June 18).

However, he emphasized that the impact of the peace accord on local fuel prices will not be automatic, as the government still needs to observe the concrete implementation of the agreement on the ground.

The diplomatic breakthrough occurred early Thursday morning when Iranian President Masoud Pezeshkian and US President Donald Trump digitally and remotely signed a Memorandum of Understanding (MoU) aimed at ending the conflict involving the US, Israel, and the Islamic Republic of Iran.

Following the signing of the peace deal, global crude oil prices have reportedly slid below US$80 per barrel.

Rosan Roeslani, Investment and Downstreaming Minister and CEO of the state investment agency Danantara, warmly welcomed the accord, noting its potential to stabilize and drive the Indonesian economy forward.

"We must be optimistic that our economy will perform well and progress in the future, especially with the agreement between President Trump and the Iranian government," Rosan said.

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Translator: Fathur Rochman, Yashinta Difa

Editor: Primayanti

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