KUALA LUMPUR: The retail price of RON97 will drop by 50 sen per litre, while unsubsidised RON95 will fall by 40 sen and unsubsidised diesel by 25 sen, effective tomorrow until Nov 18.
The new prices are RM4.20 per litre for RON97, RM3.87 for RON95 and RM4.87 for diesel.
The Finance Ministry said in a statement today that prices of refined petroleum products in regional markets had declined during the Automatic Pricing Mechanism (APM) calculation period, in line with lower global crude oil prices and increased supplies of refined fuel in regional markets.
However, it said global petroleum prices remained vulnerable to significant fluctuations as long as the conflict in Iran remained unresolved, while recent attacks on tankers in the Strait of Hormuz showed that the risk of supply disruptions persisted.
“The government remains committed to protecting the people and businesses through the implementation of targeted fuel subsidies under Budi Madani.
“As announced in the 2027 Budget, fuel subsidies are expected to remain high at around RM40 billion next year to help ease the cost-of-living pressures,” it said.
Under Budi95, eligible recipients continue to enjoy RON95 at RM1.99 per litre, compared with the unsubsidised price of RM3.87. The government bears a subsidy of RM1.88 per litre, equivalent to 49 per cent of the unsubsidised price.
For Budi Diesel, eligible recipients continue to pay RM2.10 per litre compared with the unsubsidised price of RM4.87, with the government absorbing RM2.77 per litre, or 57 per cent of the unsubsidised price.
“The subsidised petroleum prices remain unchanged, with RON95 under Budi95 at RM1.99 per litre; diesel under Budi Diesel at RM2.10 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.
“Through Budi95 and Budi Diesel, eligible Malaysians can continue purchasing subsidised RON95 and diesel using their MyKad, subject to the monthly eligibility limits,” it said.