Jakarta, Oct. 13 -- The government will not raise subsidized fuel prices despite a surge in Indonesia's crude oil benchmark to US$112.81 per barrel in September, Deputy Finance Minister Juda Agung said.

Speaking at the Prasasti Indonesia Policy Forum 2026 in Jakarta on Tuesday, Agung said the government would recalculate key economic assumptions to assess the potential impact of higher global oil prices.

He assured the public that the government would neither raise subsidized fuel prices nor widen the budget deficit in response to the emerging economic risks.

Instead, the government would retarget fuel subsidies to ensure they reach eligible recipients, he said.

The Energy and Mineral Resources Ministry said Monday that the Indonesian...