Malaysia cuts fuel prices as oil market softens

KUALA LUMPUR: Fuel prices across Malaysia will fall from Thursday (Nov 12), led by a 50 sen cut in RON97 as lower crude prices and stronger regional fuel supplies ease pressure at the pump.

RON97 will drop to RM4.20 per litre for the Nov 12–18 period, while unsubsidised RON95 will fall 40 sen to RM3.87. Diesel will decline 25 sen to RM4.87 per litre, the Finance Ministry said in a statement today (Nov 11).

The ministry attributed the reductions to weaker global crude oil prices and increased supplies of refined petroleum products in regional markets.

It cautioned, however, that tensions involving Iran and recent attacks on tankers in the Strait of Hormuz could still trigger sharp swings in energy prices.

For eligible Malaysians, subsidised RON95 will remain at RM1.99 per litre under BUDI95, with the government absorbing RM1.88 per litre, equivalent to about 49 per cent of the unsubsidised price.

BUDI Diesel recipients will continue paying RM2.10 per litre, with the government covering RM2.77 per litre.

The ministry said the government would continue cushioning consumers from fuel-price volatility while ensuring adequate domestic supplies