KUALA LUMPUR (Oct 21): Malaysia’s retail prices for unsubsidised RON95 and RON97 petrol will fall by 30 sen per litre, while unsubsidised diesel prices will decline by 10 sen, from Thursday (Oct 22) to Oct 28.

In a statement, the Finance Ministry said the price of unsubsidised RON95 will drop 6.49% to RM4.32 per litre from RM4.62, while RON97 will fall 5.88% to RM4.80 from RM5.10. The price of unsubsidised diesel will decrease 1.93% to RM5.07 per litre from RM5.17.

The ministry said prices of refined petroleum products in regional markets had begun to moderate during the automatic pricing mechanism calculation period, despite Brent crude oil prices remaining above US$100 per barrel. 

The decline was driven by expectations of increased supply from China, supported by continued production from other Asian countries. 

At the time of writing on Wednesday, Brent crude oil was trading at US$108.97 per barrel. 

“Persistently high crude oil prices reflect the risk of supply disruptions amid ongoing geopolitical conflicts. In the medium term, global petroleum prices are expected to remain volatile,” said the ministry. 

The ministry added that the government would continue to shield the public and businesses from the impact of global uncertainty. As announced in Budget 2027, the government is expected to spend RM40 billion on fuel subsidies next year to support economic growth and safeguard livelihoods.

Prices of subsidised RON95 petrol and diesel, meanwhile, remain unchanged at RM1.99 and RM2.10 per litre, respectively.

At current prices, the government subsidises RON95 by RM2.33 per litre, equivalent to 54% of its unsubsidised price, and diesel by RM2.97 per litre, or 59% of its unsubsidised price.

The ministry said the government would continue to adopt a prudent approach to shield the public from price fluctuations while ensuring the country’s fuel supply remains sufficient and secure.