Malaysia increases non-subsidized RON95 and RON97 petrol prices

The Malaysian Ministry of Finance has announced a 15 sen per liter increase in the retail prices of non-subsidized RON97 and RON95 petrol for the period of October 8 to 14. Under this adjustment, non-subsidized RON95 will rise to RM4.67 per liter, while non-subsidized RON97 will increase to RM5.15 per liter. The price of non-subsidized diesel remains unchanged at RM5.27 per liter.

The price hike is attributed to global pressures on the supply of refined petroleum products. While crude oil flows from West Asia are recovering, Brent crude prices have remained high, hovering around US$100 per barrel. The Ministry noted that supply constraints have been exacerbated by China suspending a large portion of its fuel exports for October. Additionally, ongoing conflicts in West Asia and the Russia-Ukraine war continue to pose risks to global petroleum supply stability.

To mitigate the impact on citizens, the government continues to provide targeted subsidies through the BUDI MADANI program. Eligible RON95 recipients will continue to pay RM1.99 per liter, with the government covering a subsidy of RM2.68 per liter (approximately 57 percent of the non-subsidized price). Diesel subsidy recipients will pay RM2.10 per liter, compared to the non-subsidized rate of RM5.27.