Kuala lumpur: The Ministry of Finance (MOF) announced that Malaysia's pump fuel prices remain steady despite a decrease in global crude oil prices. This is because the prices are based on the previous week's average rates rather than current global levels.

According to BERNAMA News Agency, the MOF shared an infographic on its X account, highlighting that existing fuel supply was purchased at previously higher prices, which continues to affect the current pump prices. The ministry noted that global oil prices had experienced a surge over the past five weeks, leading to increased costs, including those related to logistics and insurance.

The MOF explained that the current prices still mirror the earlier high supply costs, with petrol priced at approximately US$150 per barrel and diesel at US$250 per barrel. In an earlier statement, the ministry clarified that the subsidised RON95 price under the BUDI95 programme remains steady at RM1.99 per litre for the period from April 9 to 15, whereas the unsubsidised retail price has risen by 40 sen to RM4.27 per litre.

For diesel, the MOF stated that the subsidised retail price in Sabah, Sarawak, and Labuan remains unchanged at RM2.15 per litre. Meanwhile, the unsubsidised price in Peninsular Malaysia has seen an increase of 70 sen, reaching RM6.72 per litre.