MOF says RON97, unsubsidised RON95 and diesel prices raised by 5 sen per litre for Aug 27-Sept 2; subsidised BUDI95 and BUDI Diesel prices unchanged.
KUALA LUMPUR: The retail prices of RON97, unsubsidised RON95 and unsubsidised diesel will each increase by 5 sen per litre for the Aug 27 to Sept 2 period.
The Ministry of Finance (MOF) said RON97 will be priced at RM4.30 per litre, up from RM4.25, while unsubsidised RON95 will increase to RM3.82 from RM3.77 and unsubsidised diesel to RM4.72 from RM4.67.
Meanwhile, the price of subsidised RON95 under BUDI MADANI RON95 (BUDI95) remains at RM1.99 per litre, while subsidised diesel under BUDI MADANI Diesel (BUDI Diesel) remains at RM2.10 per litre.
The prices under the Subsidised Petrol Control System (SKPS) and Subsidised Diesel Control System (SKDS) also remain unchanged at RM2.05 and RM2.15 per litre, respectively.
MOF said the government bears a subsidy of RM1.83 per litre for eligible consumers under BUDI95, equivalent to about 48 per cent of the current unsubsidised RON95 price.
For BUDI Diesel, the subsidy borne by the government is RM2.62 per litre, or 56 per cent of the unsubsidised diesel price.
MOF said prolonged global geopolitical uncertainty continued to put pressure on global petroleum prices and supply, with Brent crude oil prices remaining above US$90 a barrel for most of the Automatic Pricing Mechanism (APM) calculation period.
It said ongoing restrictions on traffic in the Strait of Hormuz continued to constrain global oil supply, while disruptions to refining capacity in West Asia and Russia reduced the supply of refined petroleum products, increasing the risk of further price pressures.
“After 179 days of conflict between the United States, Israel and Iran, around 290 million of the 400 million barrels of oil agreed to be released from the emergency reserves of International Energy Agency (IEA) member countries has been channelled to the market as of July 2026.
“The depletion of this supply buffer increases the risk of price pressures should disruptions continue,” it said, adding that the situation was putting greater pressure on diesel prices amid an increasingly tight global diesel market.
“Although global crude oil prices dropped at the end of the APM calculation period, the decrease was not sufficient to offset the higher price levels for most of the previous week.
“As long as petroleum flows through the Strait of Hormuz have not returned to normal and geopolitical uncertainty continues, the prices of petroleum products are expected to continue experiencing significant fluctuations in the near term,” it said.