KUALA LUMPUR, May 20 — 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 May 27.
The Finance Ministry (MOF) said that the retail price of RON97 would be set at RM4.85 per litre compared with RM4.70 previously, while unsubsidised RON95 would rise to RM4.07 per litre from RM3.87 previously.
Meanwhile, the price of diesel in Peninsular Malaysia will be set at RM4.97 per litre, up from RM4.87 previously.
It added that the new retail price adjustment is in line with the Automatic Pricing Mechanism formula.
Simultaneously, the MADANI government will maintain targeted subsidised prices for the people 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 at RM2.15 per litre, and the Subsidised Petrol Control System at RM2.05 per litre.
The MOF said that at the current unsubsidised RON95 price of RM4.07 per litre, using 200 litres would cost RM814.
“This means the MADANI government is bearing RM416, or more than half of the actual RON95 cost, for each recipient using the full BUDI95 entitlement,” it said in a statement today.
Brent crude oil prices have now reached around US$110 per barrel, nearly 60 per cent higher than the pre-conflict level of around US$70 per barrel, as logistics costs and insurance premiums have increased significantly due to shipping risks through conflict zones, further pressuring petroleum product prices.
The MOF noted that disruptions to global oil supply are becoming more severe as the conflict continues, with the Strait of Hormuz, a route for about 20 per cent of the world’s petroleum supply, affected, and that damage to oil production and refining facilities in West Asia will take time to restore.
“In view of the still uncertain global market conditions, the MADANI government urges the public to continue practising prudent fuel consumption to help extend the country’s supply,” it said.
