Finance Ministry: RON97 down to RM5.10, diesel to RM5.17

On October 15, the Finance Ministry announced a 5 sen per litre reduction in the retail prices of RON97 and unsubsidised RON95 petrol, bringing their prices down to RM5.10 and RM4.62 respectively. Unsubsidised diesel will also see a 10 sen decrease, now priced at RM5.17 per litre from October 15 to 21. Despite Brent crude oil prices staying above US$100 (RM409) per barrel, the ministry reported that regional market supplies of refined petroleum products have shown signs of recovery.

China's re-authorisation of fuel exports for October, combined with South Korea's continued refined petroleum product supply, has helped alleviate supply pressures.

However, the ministry cautioned that the ongoing conflict in West Asia, including recent attacks in Saudi Arabia, raises concerns about potential supply disruptions and rising petroleum prices. Supply volatility is anticipated to persist in the medium term. The government remains committed to shielding people and businesses from the impact of this global uncertainty.

In Budget 2027, the government plans to allocate RM40 billion for fuel subsidies to support economic growth and ensure the sustainability of citizens' livelihoods.

BUDI MADANI RON95 (BUDI95) recipients will continue to pay RM1.99 per litre, while BUDI MADANI Diesel (BUDI Diesel) recipients will continue to pay RM2.10 per litre. The government will bear a subsidy of RM2.63 per litre (57% of the unsubsidised price) for BUDI95 and RM3.07 per litre (59% of the unsubsidised price) for BUDI Diesel.

Although the country's fuel supply remains sufficient for now, the ministry urges the public to practice prudent fuel consumption. Efficient travel planning and reducing unnecessary trips can help extend the nation's fuel supply and lessen pressure on subsidy expenditure.

The Ministry of Finance stated that the government will continue to adopt a prudent approach to protect citizens from price fluctuations while ensuring the country's fuel supply remains sufficient and secure.