KUALA LUMPUR – The retail prices of RON97, unsubsidised RON95 and unsubsidised diesel will be reduced by 50 sen, 40 sen and 25 sen per litre, respectively, from Nov 12 to 18.
The Finance Ministry (MOF) said in a statement that RON97 would be priced at RM4.20 per litre, down from RM4.70, while unsubsidised RON95 would fall to RM3.87 from RM4.27 and unsubsidised diesel to RM4.87 from RM5.12.
Meanwhile, the subsidised RON95 price will remain unchanged at RM1.99 per litre under the Budi Madani RON95 (BUDI95) programme, while diesel will remain at RM2.10 per litre under the Budi Madani Diesel (BUDI Diesel) programme.
Prices under the Subsidised Petrol Control System (SKPS) and Subsidised Diesel Control System (SKDS) will also remain unchanged at RM2.05 and RM2.15 per litre, respectively.
The MOF said the government would bear a subsidy of RM1.88 per litre for eligible BUDI95 users, equivalent to about 49 per cent of the current unsubsidised RON95 price.
For BUDI Diesel, the subsidy amounts to RM2.77 per litre, representing 57 per cent of the unsubsidised diesel price.
The ministry also said prices of refined petroleum products in regional markets had declined during the Automatic Pricing Mechanism (APM) calculation period, in line with lower global crude oil prices and increased supplies of refined fuel in regional markets.
"However, as long as the conflict involving Iran remains unresolved, global petroleum prices will continue to be subject to significant volatility. The latest attacks on tankers in the Strait of Hormuz show that the risk of supply disruptions remains,” the MOF said.
It added that the Madani Government remained committed to protecting the people and businesses through targeted fuel subsidies under Budi Madani.
Through BUDI95 and BUDI Diesel, eligible Malaysians could continue purchasing subsidised RON95 and diesel using their MyKad, subject to monthly eligibility limits.
"The Madani Government will continue to adopt a prudent approach to protect the people from price fluctuations, while ensuring that the country's fuel supply remains sufficient and secure,” the MOF said. –BERNAMA