PETALING JAYA: The retail price of diesel in Peninsular Malaysia will rise to RM6.02 per litre from today until April 8, up from RM5.52 previously, in line with the Automatic Pricing Mechanism (APM), says the Finance Ministry.
The ministry said the unsubsidised retail price of RON97 petrol has been reduced to RM4.95 per litre from RM5.15, while RON95 remains unchanged at RM3.87 per litre.
“The government continues to maintain targeted fuel subsidies for the rakyat and selected sectors,” the ministry said in a statement.
Under the targeted subsidy framework, RON95 petrol under the Budi95 programme remains at RM1.99 per litre, while diesel prices in Sabah, Sarawak and the Federal Territory of Labuan are maintained at RM2.15 per litre.
Subsidised fuel prices under the Sistem Kawalan Petrol Bersubsidi (SKPS) and Sistem Kawalan Diesel Bersubsidi (SKDS) are set at RM2.05 and RM2.15 per litre, respectively.
The ministry said that the monthly eligibility limit for Budi95 has been adjusted to 200 litres effective yesterday, describing the move as a temporary measure until global supply conditions stabilise.
In addition, diesel purchase limits have been introduced in Sabah, Sarawak and Labuan to curb leakages and smuggling.
Light vehicles are limited to 50 litres per transaction, vehicles not exceeding three tonnes to 100 litres and those above three tonnes to 150 litres per purchase.
“As an interim measure following the increase in diesel prices, the government will continue providing additional Budi diesel cash assistance of RM100 in April, bringing the total aid to RM300 for recipients under Budi Individu and Budi Agri-Komoditi,” the ministry said.
It added that medium and long-term measures are being considered to ensure that the subsidy mechanism remains sustainable, transparent and beneficial to the rakyat, taking into account the global energy crisis.
“The prolonged global energy crisis has pushed Brent crude prices up by more than 40%, exceeding US$100 per barrel.
“More critically, refined fuel prices for petrol and diesel have surged to around US$150 and US$250 per barrel, respectively, placing pressure on retail prices,” it said.
The ministry stressed that the government remains committed to shielding the public from the full impact of rising global oil prices, adding that retail fuel prices have not been fully floated despite sustained global volatility.
“Efforts to maintain subsidised petroleum prices for the rakyat and key sectors will continue to be strengthened to contain the rise in goods prices and safeguard public welfare,” it added.
The Madani government, it said, will continue to balance fiscal needs with targeted protection measures to ensure economic stability and the well-being of the rakyat.
