RON97, unsubsidised RON95 and diesel down 5 sen
These prices will be in effect until Sept 9.
The finance ministry announced a 5 sen reduction in the prices of RON97 petrol, unsubsidised RON95, and diesel, starting tomorrow. RON97 will now cost RM4.25 per litre, while unsubsidised RON95 will be sold for RM3.77 per litre. Diesel will retail at RM4.67 per litre. Under the BUDI95 scheme, RON95 remains at RM1.99 per litre, and diesel stays at RM2.10 per litre under the BUDI Diesel initiative.
Subsidised petrol and diesel under the SKPS and SKDS control systems will stay at RM2.05 and RM2.15 per litre, respectively, until September 9. The price drop is attributed to lower global crude oil prices, which are influenced by the Automatic Pricing Mechanism. However, prices surged again towards the end of the calculation period due to heightened geopolitical tensions in West Asia.
Despite a moderation in Brent crude prices after the conflict, the global refined petroleum products market remains tight due to disruptions in petroleum flows through the Strait of Hormuz, reduced refining capacity, and fuel export restrictions. These factors are expected to cause price volatility in the near term. China has also eased restrictions on refined petroleum product exports introduced in March.
Although exports started increasing again in July, the supply of some petroleum products to regional markets has not yet fully returned to pre-conflict levels. The government aims to protect the public and businesses from the impact of global uncertainty by maintaining targeted Budi Madani subsidies for eligible consumers. As of September 1, the monthly quota for BUDI95 and BUDI Diesel was increased to 300 litres, with eligible owners of diesel-powered pickup trucks and four-wheel-drive vehicles receiving an additional 100 litres, bringing their monthly entitlement to up to 400 litres.
Written by urgent.news from Free Malaysia Today's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
