Fuel Prices Up: RON97, Unsubsidised RON95 Rise 20 Sen, Diesel Up 15 Sen Beginning Sept 24

KUALA LUMPUR, Sept 23 – Retail prices for RON97 petrol and unsubsidised RON95 petrol will increase by 20 sen per litre each, while unsubsidised diesel will rise by 15 sen per litre for the week of Sept 24 to Sept 30.

The Ministry of Finance (MOF) announced that the revised pump prices are RM5.05 per litre for RON97, RM4.57 per litre for unsubsidised RON95, and RM5.42 per litre for unsubsidised diesel.

In a statement today, MOF explained that persistent supply constraints affecting refined petroleum products continue to maintain global market prices at elevated levels.

“Disruptions to refined petroleum production in Russia, one of the world’s largest diesel exporters, have further intensified the situation. Diesel exports from West Asia also fell by more than 50 per cent between March and August 2026,” the ministry said.

MOF noted that restoring global refining capacity remains critical to stabilizing refined product pricing, adding that a resumption of steady petroleum shipping flows through the Strait of Hormuz would help mitigate upward pressure on crude and refined oil markets.

However, ongoing geopolitical uncertainties are expected to drive medium-term price volatility, with potential regional conflicts threatening to escalate maritime transportation and freight costs.

“Super tanker rental rates for several routes from West Asia have reached record levels of about US$1 million per day following shipping disruptions,” MOF pointed out.

Despite global headwinds, MOF assured that the MADANI Government remains committed to cushioning citizens and domestic businesses from extreme market volatility by maintaining targeted fuel subsidies.

These subsidies continue to be distributed via targeted assistance initiatives, including BUDI MADANI, BUDI Diesel, the Subsidised Petrol Control System (SKPS), and the Subsidised Diesel Control System (SKDS).

While national fuel inventories remain sufficient and secure, MOF urged consumers to practice prudent fuel consumption, plan transit routes efficiently, and minimize unnecessary travel to assist in conserving national supplies and managing federal subsidy expenditures.

–NMT