KUALA LUMPUR, Sept 2 — RON97, unsubsidised RON95 and unsubsidised diesel will each be cheaper by 5 sen per litre from tomorrow to September 9.
The Finance Ministry (MOF) in a statement today announced that RON97 will be RM4.25 per litre, RON95 will be RM3.77 per litre, and diesel will be RM4.67 per litre.
It said that the decline reflects lower world crude oil trading prices for most of the calculation period under the Automatic Pricing Mechanism (APM), although prices rose again towards the end of the period due to geopolitical tensions in West Asia.
“Although Brent crude oil prices have moderated from the peak levels of the West Asian conflict, the global refined petroleum product market remains tight due to disruptions in petroleum flow through the Strait of Hormuz, a reduction in refining capacity and fuel export restrictions,” it said.
MOF said these factors are expected to continue and cause price fluctuations in the near term.
It added that China began to ease export restrictions on refined petroleum products introduced in March, but regional supply of several petroleum products has not returned to pre-conflict levels, even though exports started to rise from July.
The Madani Government, according to the MOF, will continue to shield the people and businesses from the effects of global uncertainty by maintaining targeted BUDI Madani subsidies.
Through BUDI95, eligible recipients continue to pay RM1.99 per litre for RON95, with the government covering a subsidy of RM1.78 per litre or 47 per cent of the unsubsidised price of RM3.77.
For BUDI Diesel, recipients pay RM2.10 per litre with a government subsidy of RM2.57 per litre or 55 per cent of the unsubsidised price of RM4.67.
Meanwhile, petrol under the Subsidised Petrol Control System (SKPS) and diesel under the Subsidised Diesel Control System (SKDS) remain at RM2.05 and RM2.15 per litre, respectively.
