KUALA LUMPUR: The retail price of RON97 will drop by 20 sen to RM4.70 per litre, while unsubsidised RON95 and diesel will go down 15 sen to RM4.27 and RM5.12 per litre for the period of Nov 5 to 11.
The Finance Ministry, in a statement today, announced that this pricing is determined based on the Automatic Pricing Mechanism (APM) formula.
“The regional petroleum market shows signs of moderation following an increase in the supply of refined fuels, including petrol and diesel stocks in Singapore, which serves as one of the market references for petroleum pricing in Malaysia.
“This development, together with the drop in Brent crude oil prices at the end of the APM calculation period, indicates the possibility of lower price pressures,” the ministry said in a statement.
However, it said geopolitical uncertainties in the Middle East continue to pose risks to world petroleum price stability.
Meanwhile, the price of subsidised RON95 through Budi95 remains at RM1.99 per litre, with the government bearing a subsidy of RM2.28 per litre, or 53 per cent of the unsubsidised price for the period.
For Budi Diesel, the price for eligible recipients remains at RM2.10 per litre, involving a government subsidy of RM3.02 per litre, or 59 per cent of the unsubsidised price.
Additionally, the price of petrol under the Subsidised Petrol Control System (SKPS) remains at RM2.05 per litre, while diesel under the Subsidised Diesel Control System (SKDS) remains at RM2.15 per litre.
According to the ministry, eligible Malaysians can continue to purchase subsidised RON95 and diesel using their MyKad, subject to monthly eligibility limits.
“The government will continue to take a prudent approach to protect the rakyat from price fluctuations, while ensuring that the country’s fuel supply remains adequate and secure,” the statement added.