Retail prices for RON97, unsubsidised RON95 and unsubsidised diesel will increase for the period of 23 to 29 July 2026, following a sharp rise in global crude oil prices driven by renewed geopolitical tensions in the Middle East.
In a statement on Wednesday, the Ministry of Finance (MoF) said that under the Automatic Pricing Mechanism (APM), the retail price of RON97 will increase by 20 sen to RM4.20 per litre, while unsubsidised RON95 will also rise by 20 sen to RM3.62 per litre.
Meanwhile, the price of unsubsidised diesel will go up by 35 sen, bringing it to RM4.42 per litre. The new prices take effect from Thursday.
According to the ministry, the increase follows a 16% surge in Brent crude oil prices over the past week after tensions between the United States and Iran escalated following the end of a ceasefire.
MoF said concerns over global petroleum supplies have also intensified due to restrictions on shipping and reduced vessel traffic through the Strait of Hormuz.
The ministry added that tightening global crude oil inventories and the risk of disruptions to oil exports from Saudi Arabia have further pushed up oil prices.
“Global petroleum markets are expected to remain volatile until the conflict is resolved,” the statement said.
MoF noted that while renewed diplomatic efforts and proposals for another ceasefire have helped limit further price increases, market concerns over potential supply disruptions remain.
Despite the higher global oil prices, the ministry assured that Malaysia’s fuel supply remains sufficient and said the government will continue taking prudent measures to shield consumers from market volatility.
Meanwhile, subsidised fuel prices remain unchanged, with RON95 (BUDI95) maintained at RM1.99 per litre, BUDI Diesel at RM2.10 per litre, Subsidised Petrol Control System (SKPS) at RM2.05 per litre, and Subsidised Diesel Control System (SKDS) at RM2.15 per litre.
The ministry also reminded eligible Malaysians that they can continue purchasing subsidised RON95 and diesel using their MyKad under the BUDI Madani programme, subject to the scheme’s eligibility requirements and monthly quota limits.
