These prices will be in effect until Sept 9.
RON97 will retail at RM4.25 per litre, while unsubsidised RON95 will sell for RM3.77 per litre.
Unsubsidised diesel will retail at RM4.67 per litre.
RON95 under the BUDI95 scheme will continue to be sold at RM1.99 per litre, while diesel will remain at RM2.10 per litre under the BUDI Diesel initiative.
Subsidised petrol under the subsidised petrol control system (SKPS) will remain at RM2.05 per litre, while subsidised diesel under the subsidised diesel control system (SKDS) will retail at RM2.15 per litre.
These prices will be in effect until Sept 9.
The ministry said the reduction reflected lower global crude oil prices for most of the period used to calculate prices under the Automatic Pricing Mechanism.
“However, prices rose again towards the end of the period following heightened geopolitical tensions in West Asia,” it said in a statement today.
It said that although Brent crude prices had moderated from their peak during the West Asia conflict, the global refined petroleum products market remained tight due to disruptions to petroleum flows through the Strait of Hormuz, reduced refining capacity in several countries, and fuel export restrictions.
“These factors are expected to continue causing price volatility in the near-term,” it said.
The ministry said China had also begun easing restrictions on refined petroleum product exports introduced in March.
“Although exports began increasing again from July, the supply of several petroleum products to regional markets has yet to fully return to pre-conflict levels,” it said.
It said the government would continue protecting the public and businesses from the impact of global uncertainty, including by maintaining targeted BUDI Madani subsidies for eligible consumers.
From Sept 1, the monthly quota for BUDI95 and BUDI Diesel was increased back to 300 litres from 200 litres.
Eligible owners of diesel-powered pickup trucks and four-wheel-drive vehicles will also receive an additional 100 litres, bringing their monthly entitlement up to 400 litres. - FMT
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