Reference price of biodiesel in August set higher
Wednesday, July 29 2020 - 11:43 PM WIB
The reference price (or also known as HIP) of biodiesel for the period of April 2020 has been set at Rp14,779 per liter, higher than the reference price in June at Rp13,759 per liter, the Ministry of Energy and Mineral Resources said on Wednesday.
The biodiesel price is in accordance with the decree of the MEMR Number 3034K/12/MEM/2016 on biofuel reference price to be mixed with fossil fuel.
"The price applies for bio-ethanol products to be mixed with fossil fuel from August 1, 2020," the spokesperson of the MEMR Agung Pribadi said on Wednesday (28/07).
Read also : Reference price of biodiesel down
The bioethanol-type reference price is set based on sugar cane drops for an average of 3 months period multiplied by 4.125 kg/L (unit factor from kg to L) plus 0.25 USD/L, which is the conversion value of raw materials that are blended into bioethanol. The rupiah was assumed at Rp14.348/USD in calculating the above figures.
Editing by Roffie Kurniawan