Malaysia’s unsubsidised RON95 petrol price has increased by five sen to RM3.42 per litre, while unsubsidised diesel has gone up by 10 sen to RM4.07 per litre for the period from July 16 to July 22, following heightened geopolitical tensions in the Middle East.
The Ministry of Finance (MoF) said the retail price of RON97 remains unchanged at RM4.00 per litre, in line with the Automatic Pricing Mechanism (APM).
According to the ministry, the increase in unsubsidised fuel prices was driven by movements in the global oil market after the United States launched fresh strikes on Iran, raising concerns over the security of shipping routes through the Strait of Hormuz.
The latest developments have pushed up the risk premium for crude oil and increased shipping costs. Brent crude prices also climbed to US$85 per barrel, marking an increase of around 20 per cent over the past two weeks.
Despite the global price surge, subsidised fuel prices under the Budi Madani initiative remain unchanged. BUDI95 RON95 continues to be priced at RM1.99 per litre, while BUDI Diesel remains at RM2.10 per litre.
The diesel price under the Subsidised Diesel Control System (SKDS) also stays at RM2.15 per litre, while petrol under the Subsidised Petrol Control System (SKPS) remains RM2.05 per litre.
The ministry said eligible Malaysians can continue purchasing subsidised RON95 and diesel using their MyKad through the BUDI95 and BUDI Diesel schemes, subject to the programme’s eligibility requirements and their remaining monthly fuel quota.
MoF warned that petroleum prices are likely to remain volatile as long as the conflict in the Middle East continues without a lasting resolution. However, it assured the public that Malaysia’s fuel supply remains stable and sufficient.
The government also encouraged motorists to use fuel responsibly by planning journeys more efficiently and avoiding unnecessary travel to help ease pressure on subsidy spending. It reiterated that the Madani Government will continue taking prudent measures to shield consumers from global fuel price fluctuations while ensuring the country’s fuel supply remains secure.
