Peninsular malaysia: The retail prices of RON97, unsubsidised RON95, and diesel in Peninsular Malaysia will increase by 15 sen, 20 sen, and 10 sen per litre respectively for the period from May 21 to 27.
According to BERNAMA News Agency, the Ministry of Finance (MOF) announced in a statement that the retail price of RON97 would be set at RM4.85 per litre compared to RM4.70 previously, while unsubsidised RON95 would rise to RM4.07 per litre from RM3.87. Meanwhile, the price of diesel will be set at RM4.97 per litre compared with RM4.87 previously.
The MOF stated that the new retail price adjustment aligns with the Automatic Pricing Mechanism (APM) formula. The MADANI Government will continue to maintain targeted subsidised prices for the public and selected sectors, covering RON95 (BUDI95) at RM1.99 per litre, diesel in Sabah, Sarawak, and Labuan, as well as the Subsidised Diesel Control System (SKDS) at RM2.15 per litre, and the Subsidised Petrol Control System (SKPS) at RM2.05 per litre.
MOF highlighted that at the current unsubsidised RON95 price of RM4.07 per litre, using 200 litres would cost RM814. The MADANI Government is bearing RM416, or more than half of the actual RON95 cost, for each recipient using the full BUDI95 entitlement.
The statement noted that Brent crude oil prices have now reached around USD110 per barrel, nearly 60 percent higher compared to the pre-conflict level of around USD70 per barrel. This increase is due to significant rises in logistics costs and insurance premiums, driven by shipping risks through conflict zones, further pressuring petroleum product prices.
Disruptions to the global oil supply are becoming more severe as the conflict continues, with the Strait of Hormuz serving as a route for about 20 percent of the world's petroleum supply. Damage to oil production and refining facilities in West Asia will also take time to restore. In light of the uncertain global market conditions, MOF urged the public to continue practising prudent fuel consumption to help extend the country's supply.