KUALA LUMPUR (Sept 30): Retail prices of unsubsidised petrol and diesel are set to fall from Thursday, Oct 1, as average global crude oil prices moderate after Saudi Arabia’s East-West pipeline resumed operations.

The prices of unsubsidised RON97 and RON95 are to decrease by five sen per litre to RM5 for RON97 and RM4.52 for RON95, while unsubsidised diesel will fall by 15 sen per litre to RM5.27, according to a statement from the Finance Ministry.

The government said supplies of refined petroleum products in Asia had also shown signs of recovery, with China’s refined petroleum product exports in September estimated to have exceeded four million tonnes, compared with a monthly average of around three million tonnes last year.

However, the recovery in global supply remained uneven, with another major refinery in Russia’s Perm forced to halt operations following a Ukrainian drone attack last week. This continued to limit Russian diesel supplies to international markets.

At current prices, eligible Budi95 recipients will continue to pay RM1.99 per litre, compared with the unsubsidised RON95 price of RM4.52 per litre. This means the government is providing a subsidy of RM2.53 per litre, equivalent to 56% of the unsubsidised price.

Eligible Budi Diesel recipients will continue to pay RM2.10 per litre, compared with the unsubsidised diesel price of RM5.27 per litre. The government subsidy is RM3.17 per litre, or 60% of the unsubsidised price.

Although the country’s fuel supply remains sufficient for now, the government urged the public to continue using fuel prudently. It said more efficient travel planning and reducing unnecessary journeys can help extend the country’s fuel supply and reduce pressure on subsidy spending.