KUALA LUMPUR, July 8 - Unsubsidised fuel prices will remain for the July 9-15 period, as international petroleum market prices continue to ease from peak levels during the West Asia conflict.
The Finance Ministry (MOF) in a statement today said RON97 remains at RM4 per litre, while RON95 and diesel remain at RM3.37 per litre and RM3.97 per litre, respectively.
Subsidised RON95 under BUDI95 remains at RM1.99 per litre and diesel under BUDI Diesel stays at RM2.10 per litre.
Rates under the Subsidised Petrol Control System (SKPS) remain at RM2.05 per litre, and diesel under the Subsidised Diesel Control System (SKDS) stays at RM2.15 per litre.
According to 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 US 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 is adequate for now, the Madani Government has urged that the public practise prudent fuel consumption.
It said more efficient travel planning and fewer unnecessary trips can help stretch the national supply and ease pressures on subsidy expenditures.
