RON97, unsubsidised RON95, diesel up 35 sen

Starting tomorrow, Malaysia's RON97 petrol, unsubsidised RON95 and diesel prices will rise by 35 sen each, according to the finance ministry. RON97 will cost RM4.85 per litre, unsubsidised RON95 will be RM4.37, and diesel will be RM5.27 per litre. The BUDI95 scheme will keep RON95 at RM1.99 per litre, while diesel will remain at RM2.10 under the BUDI Diesel plan.

Subsidised petrol under the SKPS system will stay at RM2.05 per litre, and subsidised diesel under SKDS will be RM2.15 per litre. These new prices will be in place until September 23. The ministry attributes the price hike to a significant increase in global crude oil prices due to tensions between the US and Iran and potential disruptions to petroleum supplies through the Strait of Hormuz.

Global markets for refined petroleum products are also tight. The government will continue to protect consumers and businesses from the effects of global uncertainty by maintaining targeted BUDI Madani subsidies for eligible consumers. As of September 1, the monthly quota for BUDI95 and BUDI Diesel has been increased back to 300 litres from 200 litres.

Diesel-powered pickup trucks and four-wheel-drive vehicle owners will receive an additional 100 litres, bringing their monthly entitlement up to 400 litres.