Malaysia maintains unsubsidised petrol and diesel prices for July 9-15 as global crude oil prices ease from recent highs
KUALA LUMPUR: Retail prices of unsubsidised petrol and diesel will remain unchanged from July 9 to 15, as international petroleum market prices continue to ease from the peak levels during the recent conflict.
The Ministry of Finance (MoF), in a statement today, said the retail price of RON97 will remain at RM4 per litre, while RON95 and diesel will remain at RM3.37 per litre and RM3.97 per litre, respectively.
For subsidised petroleum, the price of RON95 under the BUDI95 programme remains unchanged at RM1.99 per litre; diesel (BUDI Diesel) at RM2.10 per litre; Subsidised Petrol Control System (SKPS) at RM2.05 per litre; and Subsidised Diesel Control System (SKDS) at RM2.15 per litre.
According to the MoF, global crude oil prices continued to moderate over the past week, driven by a decline in the geopolitical risk premium, a recovery in supply flows and intensified price competition among major producers.
“However, recent developments in West Asia, including the latest United States strikes on Iran yesterday, indicate that risks to prices and supply remain as long as the conflict remains unresolved.
“In the medium term, expectations of a global oversupply following the recovery in production and moderation in demand are expected to limit further price increases. However, any new disruptions to key trade routes could trigger significant price volatility,” it added.
MoF also said that while the national fuel supply remains adequate for now, the MADANI government urges the public to continue practising prudent fuel consumption.
It added that more efficient travel planning and fewer unnecessary trips can help stretch the national supply and ease pressure on subsidy expenditures.
