Finance Ministry: Price of RON97 down by 20 sen, RON95 and diesel drop by 15 sen respectively tomorrow
KUALA LUMPUR, Nov 4 — The retail price of RON97 has dropped by 20 sen to RM4.70 per liter, while unsubsidised RON9...
The Malaysian Finance Ministry announced a drop in the retail prices of RON97, RON95, and diesel for the period of November 5 to 11. RON97's price decreased by 20 sen, now trading at RM4.70 per liter, while unsubsidised RON95 and diesel prices fell by 15 sen each, reaching RM4.27 and RM5.12 per liter respectively. These price reductions were determined based on the Automatic Pricing Mechanism (APM) formula, contrasting the previous prices of RM4.90 for RON97, RM4.42 for unsubsidised RON95, and RM5.27 for unsubsidised diesel.
The decrease was attributed to increased supply of refined fuels in the regional petroleum market, particularly the rise in Singapore's refined fuel stocks, which serve as a benchmark for Malaysia's petroleum pricing. Additionally, the drop in Brent crude oil prices at the end of the APM calculation period contributed to the lower price pressures.
However, the Ministry of Finance cautioned that geopolitical uncertainties in West Asia still pose risks to global petroleum price stability. Meanwhile, the government continues to subsidize subsidised RON95 at RM1.99 per liter and Budi Diesel at RM2.10 per liter, with eligible recipients purchasing them through MyKad, within monthly eligibility limits.
The Madani Government pledged to maintain a cautious approach in safeguarding Malaysians from price fluctuations while ensuring adequate and secure fuel supply in the country.
Written by urgent.news from Malay Mail's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
