Malaysia’s Finance Ministry said on May 13 it will lower retail prices for RON97, unsubsidised RON95 and diesel in Peninsular Malaysia for the week of May 14 to May 20. [1, 2, 3, 4, 5, 6, 7, 8]
RON97 will fall to RM4.70 per litre from RM4.90, a cut of 20 sen. Unsubsidised RON95 will drop to RM3.87 per litre from RM4.02, while Peninsular diesel will fall to RM4.87 per litre from RM5.17, down 30 sen. [1, 2, 3, 4, 5, 6, 8]
The ministry said the change followed lower global crude oil or fuel prices under the Automatic Pricing Mechanism. Reports cited crude oil at about US$100 a barrel, still above the roughly US$60 to US$70 range seen before the conflict in the Middle East. [1, 2, 3, 4, 6, 7, 8]
Targeted subsidised fuel prices will stay in place for certain groups. BUDI95 RON95 remains at RM1.99 per litre, while diesel in Sabah, Sarawak and Labuan stays at RM2.15 per litre. The Subsidised Petrol Control System rate remains at RM2.05 per litre and the Subsidised Diesel Control System rate remains at RM2.15 per litre. [3, 4, 5, 6, 8]
The revised prices take effect on May 14 and run through May 20. [1, 2, 3, 4, 5, 6, 8]
