Diesel, RON97 and unsubsidised RON95 prices up by RM0.35 for Sept 17-23 period

KUALA LUMPUR, Sept 16 — The Malaysian Ministry of Finance announced that the prices of RON97, unsubsidised RON95, and unsubsidised diesel will all rise by 35 sen per litre for the week of Sept 17-23. RON97 will reach RM4.85 from RM4.50, unsubsidised RON95 will increase to RM4.37 from RM4.02, and unsubsidised diesel will climb to RM5.27 from RM4.92.

The price hikes are attributed to increased tensions in West Asia due to the ongoing conflict, which has been in the making for 200 days. Attacks on vessels in the Strait of Hormuz, retaliation by Iran, and disruptions to Saudi Arabia's energy infrastructure have led to reduced vessel traffic and a surge in Brent crude oil prices above US$100 per barrel, peaking at nearly US$110 per barrel during Automatic Pricing Mechanism calculations.

High refining margins, stemming from Russia's disruptions and crude oil supply constraints, have also contributed to the price increases. The Madani Government remains committed to shielding citizens and businesses from global uncertainties, maintaining targeted BUDI Madani subsidies for RON95 and BUDI Diesel, ensuring eligible consumers pay less despite the rising global fuel prices.