MOF: Fuel prices jump 35 sen as Brent nears US$110 amid West Asia conflict
THE retail prices of RON97, unsubsidised RON95 and unsubsidised diesel will each rise by 35 sen a litre from Thursday as escalating conflict in West Asia drives global crude and refined petroleum prices higher. Based on the Automatic Pricing Mechanis...
Fuel prices in Malaysia are set to increase by 35 sen per litre, effective September 17 to 23, due to rising global crude and refined petroleum prices caused by escalating conflict in West Asia. RON97 will rise to RM4.85 from RM4.50, unsubsidised RON95 will increase to RM4.37 from RM4.02, and unsubsidised diesel will go up to RM5.27 from RM4.92.
The Ministry of Finance (MOF) stated that beneficiaries of BUDI MADANI, a fuel subsidy program, will remain protected from the price hike through targeted subsidies. BUDI95 recipients will continue to pay RM1.99 per litre, with the government absorbing RM2.38 per litre, while BUDI Diesel recipients will pay RM2.10 per litre, with the government covering RM3.17 per litre.
Diesel under the Subsidised Diesel Control System (SKDS) and petrol under the Subsidised Petrol Control System (SKPS) will remain unchanged at RM2.05 and RM2.15, respectively. Eligible Malaysians can continue buying subsidised RON95 and diesel using their MyKad, subject to their monthly entitlement, which was increased to 300 litres for BUDI95 and BUDI Diesel on September 1.
The government anticipates that the West Asia conflict, which has entered its 200th day, and its spread to Yemen and Saudi Arabia's energy infrastructure, will continue to drive petroleum price volatility.
Written by urgent.news from The Vibes's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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