TEMPO.CO, Jakarta - Energy and Mineral Resources Minister Bahlil Lahadalia has ensured that national fuel reserves remain adequate despite the intensifying conflict in the Middle East. The escalating hostilities involving Iran, Israel, and the United States previously led Iranian authorities to close the Strait of Hormuz, a critical global oil transit artery.
Bahlil stated that Indonesia's fuel supplies are sufficient to last nearly three weeks. "It is still enough for 20 days," he remarked following a meeting with President Prabowo Subianto at the Presidential Palace in Jakarta on Monday, March 2, 2026.
Bahlil noted that the Iran-Israel-US conflict has not yet impacted domestic energy subsidies. "To date, there have been no issues with fuel subsidies, but global prices will certainly undergo a correction as the geopolitical situation continues to intensify in the Middle East," said the Golkar Party General Chair.
Nevertheless, Bahlil highlighted the significance of the closure of the Strait of Hormuz due to the hostilities. According to him, the Indonesian government must anticipate the repercussions of the blocked distribution route. "Because in any case, we are still conducting oil fuel imports ahead of Eid," he said.
Bahlil stated that he will convene a meeting with the National Energy Council to discuss mitigation strategies for the closure of the Strait of Hormuz. "Tomorrow I will meet with the National Energy Council, after which I will convey the Council's analysis and assessment results," he said.
World oil prices surged again on Monday, March 2, as the conflict between the United States, Israel, and Iran deepened. The price spike was further driven by the Islamic Revolutionary Guard Corps (IRGC) closing the Strait of Hormuz, one of the world's most vital maritime trading passages.
Citing data from Trading Economics, Brent crude oil prices jumped by as much as 12 percent on Monday morning at the opening of trade. Brent crude reached US$78.2 per barrel, up from the February 28 closing price of US$72.8 per barrel.
Meanwhile, West Texas Intermediate (WTI) crude oil prices rose to approximately US$71.9 per barrel, soaring from the closing price of US$67.2 per barrel recorded on February 28, 2026.
Tensions in the Middle East escalated after the United States and Israel launched joint aggression against Iran on Saturday, February 28, 2026. US President Donald Trump announced that the strike killed Iran's top leader, Ayatollah Ali Khamenei. Iran retaliated by launching a wave of missiles and drones toward Israel and several US military bases across the Middle East.
The conflict shows no signs of abating. As reported by the Daily Mail on March 2, 2026, Donald Trump revealed the possibility that the war with Iran could last for the next four weeks.
Ilona Estherina contributed to the report
Read: Indonesia Warns Fuel Prices Could Rise Amid Middle East Tensions
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