KUALA LUMPUR, May 13 — Diesel in Peninsular Malaysia will be cheaper by 30 sen at RM4.87 per litre from tomorrow to May 20, from RM5.17 previously.
In a statement today, the Finance Ministry (MOF) said RON97 will be cheaper by 20 sen at RM4.70 for the same period, while unsubsidised RON95 will decline by 15 sen to RM3.87 per litre.
The ministry said the government would continue to maintain targeted subsidised fuel prices for the public and some sectors.
These include subsidised RON95 under BUDI Madani RON95 (BUDI95) at RM1.99 per litre, diesel in Sabah, Sarawak and Labuan at RM2.15 per litre, the Subsidised Petrol Control System (SKPS) at RM2.05 per litre, and the Subsidised Diesel Control System (SKDS) at RM2.15 per litre.
MOF said this week, the lower prices for diesel in Peninsular Malaysia and RON95 and RON97 are in line with the Automatic Pricing Mechanism (APM) formula following a decline in international oil prices.
“However, fuel prices remain significantly higher than levels seen before the conflict in West Asia. Crude oil prices hover at around US$100 per barrel, compared with about US$60 to US$70 per barrel before the conflict.
“Retail fuel prices are also affected by higher logistics and insurance costs due to increased risks in conflict zones. The risk of disruptions along the Strait of Hormuz continues to put pressure on global oil supplies, influencing market prices,” the ministry said.
Amid continued uncertainty in global markets, MOF urged the public to use fuel prudently to help preserve national supplies.
“To balance the cost of living and the need for prudent fiscal management, the Madani Government will continue to adopt a measured approach to shield the rakyat from price volatility while ensuring adequate and secure national fuel supplies,” it said.
