KUALA LUMPUR (Oct 28): The prices of non-subsidised RON95 and RON97 petrol will rise by 10 sen per litre each, while unsubsidised diesel will increase by 20 sen from Thursday (Oct 29) to Nov 4 amid higher global oil prices.

RON95 will rise 2.31% to RM4.42 per litre from RM4.32, while RON97 will increase 2.08% to RM4.90 per litre from RM4.80, the Ministry of Finance (MOF) said in a statement on Wednesday. 

The price of non-subsidised diesel will increase by 3.94% to RM5.27 per litre from RM5.07.

The MOF said Brent crude oil prices rose last week amid concerns over potential supply disruptions in West Asia. In regional markets, refined diesel prices in Singapore also increased, while petrol price movements were mixed.

Stocks of certain petroleum products in Singapore also declined, although supplies from Northeast Asia are expected to remain stable, said the ministry.

“Developments in the West Asian conflict, including threats to energy infrastructure and shipping routes, continue to raise concerns over the smooth flow of petroleum supplies. Global petroleum prices are expected to remain volatile in the medium term,” the ministry said.

At the time of writing on Wednesday, Brent crude oil was trading at US$111.36 per barrel.

Meanwhile, eligible recipients under the Budi Madani RON95 (Budi95) programme will continue to pay RM1.99 per litre. The government subsidy amounts to RM2.43 per litre, or 55% of the non-subsidised price.

Recipients under the Budi Madani Diesel programme will continue to pay RM2.10 per litre. This represents a government subsidy of RM3.17 per litre, equivalent to 60% of the non-subsidised price.

The subsidised prices under the Subsidised Petrol Control System (SKPS) and Subsidised Diesel Control System (SKDS) will remain unchanged at RM2.05 and RM2.15 per litre respectively.

The MOF reiterated that the government would continue to shield the public and businesses from global price volatility through targeted subsidies, including Budi Madani.

As announced in Budget 2027, fuel subsidies are expected to remain at around RM40 billion next year to help ease cost-of-living pressures.

The ministry added that the government would continue to ensure an adequate and secure domestic fuel supply while protecting the public from price fluctuations.