General : RON97, Unsubsidised RON95, Diesel Prices Up 35 Sen For Sept 17-23

KUALA LUMPUR, Sept 16 — The Ministry of Finance announced on Sept 16 that retail prices for RON97 petrol, unsubsidised RON95 petrol, and unsubsidised diesel will rise by 35 sen per litre from Sept 17 to Sept 23. RON97 will increase to RM4.85 per litre, unsubsidised RON95 to RM4.37 per litre, and diesel to RM5.27 per litre. The price hikes are attributed to heightened tensions in West Asia due to the ongoing conflict.

Iran's attacks on several vessels near the Strait of Hormuz have disrupted vessel traffic, prompting Brent crude oil prices to surpass US$100 per barrel and reach near US$110 per barrel during the Automatic Pricing Mechanism calculation period. The ministry also highlighted disruptions in refining capacity in Russia and limited crude oil supplies, which have contributed to the upward pressure on global petroleum prices.

Despite these challenges, the Madani Government remains committed to protecting citizens and businesses from global uncertainties by maintaining targeted BUDI Madani subsidies. BUDI95 recipients will continue to pay RM1.99 per litre for RON95, with the government subsidizing RM2.38 per litre, while BUDI Diesel recipients will pay RM2.10 per litre, with a subsidy of RM3.17 per litre.

The basic monthly eligibility limit for both BUDI95 and BUDI Diesel has been raised to 300 litres, with eligible diesel-powered vehicle owners receiving an additional 100 litres, totaling 400 litres monthly.