PETALING JAYA: The retail prices of RON97 and unsubdised RON95 petrol will be reduced by 5 sen per litre each from Oct 1 to 7, says the Finance Ministry.
RON97 will retail at RM5.00 per litre, down from RM5.05, while unsubsidised RON95 will be priced at RM4.52 per litre, down from RM4.57, based on the Automatic Pricing Mechanism (APM).
The retail price of unsubsidised diesel will also drop by 15sen to RM5.27 per litre for the same period.
The ministry said the reduction was driven by a moderation in average global crude oil prices during the APM calculation period, following the resumption of operations at Saudi Arabia’s East-West pipeline.
At the same time, refined petroleum supply in Asia has shown signs of recovery but the recovery in global supply remains uneven, it said.
“However, global geopolitical uncertainty is expected to influence the price of petroleum products in the short term,” it said in a statement on Wednesday (Sept 30).
The ministry, however, said the Madani administration would continue to shield the rakyat and businesses from the impact of global uncertainties, including by retaining subsidies under the Budi Madani mechanism for eligible users.
It said Budi Madani RON95 recipients would continue to purchase RON95 at RM1.99 per litre, while Budi Madani Diesel recipients could buy diesel at RM2.10 per litre.
“While the country's fuel supplies remain sufficient, the rakyat is urged to use it prudently by planning journeys better and reducing unnecessary travel.
“This would help extend the duration for which the country's supplies can last and reduce pressure on the Government's subsidy expenditure,” said the Finance Ministry.
