By Romel S. Gurky
The Ministry of Energy and Mineral Resources has set the biofuel reference price (HIP) for April 2024 at Rp 12,178 per liter plus transportation cost.
The ministry said in a statement that the domestic price of crude palm oil (CPO) at the KPB joint marketing office from 25 February 2024 to 24 March averaged Rp 12,666 per kg.
Read also : Ministry announces increased biofuel reference price for February
This HIP price adjustment is based on a formula that considers the conversion rate of crude palm oil (CPO) into biofuel, currently valued at US$85 per metric ton.
Editing by Reiner Simanjumtak
