KUALA LUMPUR (May 20): Retail prices for RON97, unsubsidised RON95 and diesel in Peninsular Malaysia will increase for the week of May 21-27 as the war in the Middle East continues to drag on, intensifying pressure on global crude oil and petroleum product prices, according to the Ministry of Finance (MOF).

The pump price for RON97 will rise by 15 sen to RM4.85 per litre, up from RM4.70 currently, the ministry said in a statement. Unsubsidised RON95 will see a 20 sen rise to RM4.07 per litre, up from RM3.87 currently, while the retail price of diesel in Peninsular Malaysia will go up by 10 sen to RM4.97 per litre from RM4.87.

At RM4.07 per litre of unsubsidised RON95, the consumption of 200 litres would cost RM814, the ministry noted. This means the government bears RM416 — more than half of the actual cost — for each Budi95 recipient who fully utilises one’s Budi95 entitlement, so one pays only up to RM398 per month.

The ministry said the prolonged Middle East geopolitical crisis has now persisted for over 11 weeks, with no immediate resolution in sight. This has driven Brent Crude prices to around US$110 per barrel month, nearly 60% higher compared to the pre‑conflict level of about US$70 per barrel, it said.

"At the same time, logistics costs and insurance premiums have risen sharply due to risks of shipments passing through conflict zones, further adding pressure to petroleum product prices," the MOF said.

Given the global uncertainties, the government again urged the public to be prudent in their fuel consumption and plan their daily travels efficiently to help sustain the nation's domestic fuel buffer.

Meanwhile, it said subsidised prices across all fuel products remain unchanged, with the Budi95 subsidised RON95 price remaining at RM1.99 per litre, while diesel in Sabah, Sarawak and Labuan costs RM2.15 per litre.

The Subsidised Petrol Control System (SKPS) price also remains unchanged at RM2.05 per litre, while the Subsidised Diesel Control System (SKDS) rate is kept at RM2.15 per litre.