Commodity Market Report
Indonesia retail fuels long-term outlook
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Report summary
Indonesia is the world’s fourth most populous country and road fuel demand is expected to continue to grow rapidly out to 2040, supported by rising per capita incomes. Beyond 2040, road fuel demand will stagnate as the rising share of alternatively-powered vehicles has a material impact. The country is a net importer of refined oil products and much of the domestic oil market is under the control of state-owned Pertamina. Although its monopoly was ended following the liberalisation of the market in 2004, private players have yet to make a material impact on the market.
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