Prabowo Urges Stable Prices for Basic Commodities Ahead of Eid

TEMPO.CO, Jakarta - Indonesian president Prabowo Subianto has instructed that prices for essential commodities remain stable during this year’s Ramadan and Eid al-Fitr.

The directive came during a meeting at the Jakarta Presidential Palace on Monday, March 2, 2026, with Coordinating Minister for Maritime Affairs and Investment Luhut Binsar Pandjaitan.

Luhut said the President emphasized maintaining sufficient food stock throughout the fasting month and Eid. “We need to ensure that food stock is closely monitored during Ramadan and Eid,” he told reporters after the meeting.

Prabowo also asked Luhut to tour and supervise government programs, including food distribution, the People’s Business Credit (KUR), Village-Owned Enterprises (BUMDes), and waste management.

“I was instructed to make rounds to ensure these programs are running smoothly,” Luhut added.

The Coordinating Minister noted that the President specifically wants the availability, affordability, and prices of food and other basic commodities to remain stable during Ramadan and Eid.

“Of course, during fasting and Eid, basic commodities must be accessible and affordable,” he said.

Energy and Mineral Resources Minister Arifin Tasrif also attended the meeting. Prior to the discussion, Arifin indicated that Prabowo wanted to address the current geopolitical situation, particularly the closure of the Strait of Hormuz following the conflict between Iran, Israel, and the United States.

“The closure of the world’s oil supply route must be anticipated by the government,” said Arifin, chairman of the Golkar Party. “Because in any case, we are still importing crude oil before Eid al-Fitr.”

Arifin added that he would meet with the National Energy Council to assess mitigation measures for a potential prolonged closure of the Hormuz Strait.

“Tomorrow, I will meet with the National Energy Council, and afterward present the analysis and study results from the Council,” he said.

Global oil prices surged on Monday, March 2, amid escalating conflict between the United States, Israel, and Iran. The rise was also influenced by the closure of the Hormuz Strait by Iran’s Islamic Revolutionary Guard Corps (IRGC), a crucial artery for international oil trade.

Data from Trading Economics showed Brent crude oil prices spiking 12 percent at Monday’s market open, reaching US$78.2 per barrel, up from US$72.8 at the close of trading on February 28. West Texas Intermediate (WTI) crude rose to US$71.9 per barrel, compared with US$67.2 at the same closing date.

Tensions in the Middle East escalated after a joint strike by the United States and Israel on Iran on Saturday, February 28, 2026, reportedly killing Iran’s top leader, Ayatollah Ali Khamenei. In retaliation, Iran launched missile and drone attacks targeting Israel and several U.S. military bases in the region.

The conflict shows no immediate signs of de-escalation. According to the Daily Mail on March 2, U.S. President Donald Trump suggested that a potential war with Iran could last for up to four weeks, raising global concerns over energy security and commodity prices.

Read: Iran Envoy Welcomes Prabowo's Mediation Offer but Questions Its Impact

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