Ministry sets higher December biofuel reference price
Tuesday, December 10 2019 - 04:57 PM WIB
The Directorate General of New and Renewable Energy at the Ministry of Energy and Mineral Resources has set the reference prices for biofuel and bioethanol for the period of December 2019.
The ministry said in a statement obtained Tuesday that the December reference price for biofuel (also known as HIP BBN) was set at Rp 7,914 per liter, which is higher than the November reference price of Rp 7.157 per liter.
The higher December biofuel reference price comes following the increase in the price of crude palm oil in November, the ministry said.
Read also: Ministry sets lower reference price for bio-diesel in November
Meanwhile, the December reference price for bioethanol was set Rp 10,348 per liter, which is lower than the November price of Rp 10,297 per liter.
HIP BBN is set as a reference price for the government agencies to purchase biofuel from producers in implementing the B-20 program, in which automotive diesel is mixed with 20 percent biofuel derived from palm oil.
Editing by Reiner Simanjuntak