Finance Ministry: Prices of non subsidised RON97, RON95, diesel cheaper by 20, 15 and 10 sen respectively from Aug 13 to 19

KUALA LUMPUR, Aug 12 — The Malaysian Finance Ministry revealed on Aug 12 that non-subsidised petrol prices are set to decrease from Aug 13 to Aug 19. RON97's price will fall by 20 sen per liter, RON95 will drop by 15 sen, and diesel will see a 10 sen reduction. The Ministry of Finance (MoF) announced that RON97 will now be priced at RM4.15 per liter, down from RM4.35.

Unsubsidised RON95 will cost RM3.62 per liter, compared to the previous price of RM3.77. Diesel will be priced at RM4.47 per liter, a decrease from the previous RM4.57. Meanwhile, subsidized prices for petrol will stay the same, at RM1.99 per liter for Budi Madani RON95 (Budi95), and RM2.10 per liter for diesel under Budi Madani Diesel (Budi Diesel).

The Madani Government subsidizes RM1.63 per liter for Budi95, which is about 82% of the pump price. For Budi Diesel, the subsidy is RM2.37 per liter, equivalent to about 113% of the pump price. The SKPS and SKDS prices remain at RM2.05 and RM2.15 per liter, respectively. The price decrease follows a global oil price drop last week, driven by hopes of resolving the US-Iran conflict and Brent crude oil prices falling below US$80 (RM330) a barrel.

However, geopolitical risks are rising as US and Iranian negotiations deteriorate. Oil prices are expected to remain volatile due to uncertainties surrounding the Strait of Hormuz's reopening.