KUALA LUMPUR (Nov 11): The retail prices of RON97, unsubsidised RON95 and unsubsidised diesel will drop by 50 sen, 40 sen and 25 sen per litre respectively from Nov 12 to 18.

The Finance Ministry (MOF), in a statement, said the price of RON97 would be reduced to RM4.20 per litre from RM4.70 previously, while unsubsidised RON95 would fall to RM3.87 per litre from RM4.27 and unsubsidised diesel to RM4.87 per litre from RM5.12.

Meanwhile, the subsidised prices of RON95 will remain unchanged at RM1.99 per litre under the Budi Madani RON95 (Budi95) programme and RM2.10 per litre for diesel under the Budi Madani Diesel (Budi Diesel) programme.

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

The MOF explained that the government would bear a subsidy of RM1.88 per litre for eligible Budi95 users, equivalent to about 49% of the current unsubsidised RON95 price.

For Budi Diesel, the subsidy provided is RM2.77 per litre, representing 57% of the unsubsidised diesel price.

In addition, the MOF said prices of refined petroleum products in regional markets had declined during the automatic pricing mechanism calculation period, in line with the drop in global crude oil prices, and increased supplies of refined fuel in regional markets.

“However, as long as the conflict involving Iran remains unresolved, global petroleum prices will continue to be subject to significant volatility. The latest attacks on tankers in the Strait of Hormuz show that the risk of supply disruptions remains,” the MOF said.

It added that the government remains committed to protecting the people and businesses through the implementation of targeted fuel subsidies under Budi Madani.

Through Budi95 and Budi Diesel, eligible Malaysians could continue to purchase subsidised RON95 and diesel using their MyKad, subject to the monthly eligibility limits.

“The Madani government will continue to adopt a prudent approach to protect the people from price fluctuations, while ensuring that the country's fuel supply remains sufficient and secure,” the MOF said.

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