KUALA LUMPUR: The retail prices of unsubsidised RON95 petrol and diesel in Peninsular Malaysia remain unchanged from July 5 to 15.
The Finance Ministry said the retail price of RON97 remained at RM4.00 per litre, while unsubsidised RON95 would be RM3.37 per litre.
The price of diesel in Peninsular Malaysia meanwhile is still set at RM3.97 per litre.
For subsidised petroleum, the price of RON95 under the Budi95 programme remains unchanged at RM1.99 per litre for over 14 million eligible recipients, while the price of diesel in Sabah, Sarawak, and Labuan remains at RM2.15 per litre.
Meanwhile, the price under the Subsidised Petrol Control System (SKPS) is maintained at RM2.05 per litre, while the Subsidised Diesel Control System (SKDS) stays at RM2.15 per litre.
At the same time, the price of diesel under the Budi Madani Diesel (Budi Diesel) initiative is also being maintained at RM2.10 per litre for eligible private diesel vehicle owners.
"Global crude oil prices continued to moderate over the past week. This trend has been driven by a reduction in the geopolitical risk premium, a recovery in supply flows, and increased price competition among major producers," said the Finance Ministry in a statement on Wednesday (July 8).
"Nevertheless, recent developments in West Asia, including the United States' fresh strikes on Iran yesterday (July 7), indicate that risks of disruption to prices and supply remain, so long as a resolution to the conflict is not finalised.
"In the medium term, an anticipated global supply surplus, following a recovery in production and a moderation in demand, is expected to limit price increases. However, any fresh disruption to major trade routes could cause significant price volatility," it said, adding that the nation's fuel supply remains sufficient for the time being.
The ministry also called on the public to continue using fuel prudently to help safeguard the nation's supply stability, saying that more efficient journey planning, along with a reduction in unnecessary travel would help extend the nation's supply and ease pressure on subsidy expenditure.
