KUALA LUMPUR: Retail prices of unsubsidised RON97 and RON95 petrol will fall by five sen a litre from midnight tonight until next Wednesday, the Finance Ministry said.
The retail price of unsubsidised diesel will also fall by 10 sen a litre over the same period.
Prices of subsidised fuels will remain unchanged, with RON95 at RM1.99 a litre, diesel at RM2.10, the Subsidised Petrol Control System at RM2.05 and the Subsidised Diesel Control System at RM2.15.
Although Brent crude prices remain above US$100 a barrel, supplies of refined petroleum products in regional markets are showing signs of recovery.
China has allowed fuel exports to resume for October, while South Korea continues to supply refined petroleum products to regional markets, helping to ease supply pressures.
The widening conflict in the Middle East, including attacks in Saudi Arabia last week, has increased the risk of supply disruptions and higher petroleum prices. Price volatility is expected to continue in the medium term.
The ministry said the government would continue to protect the public and businesses from the effects of global uncertainty.
As announced in 2027 Budget, the government is expected to spend RM40 billion on fuel subsidies next year to support economic growth and safeguard livelihoods.
The government subsidises RM2.63 a litre, or 57 per cent of the unsubsidised price, for Budi Madani RON95 (Budi95) recipients.
Budi Madani diesel recipients will continue to pay RM2.10 a litre, compared with the unsubsidised diesel price of RM5.17 a litre. The government subsidy amounts to RM3.07 a litre, or 59 per cent of the unsubsidised price.
The ministry urged the public to continue using fuel prudently, although national fuel supplies remain sufficient for now.
The government will continue to take a prudent approach to protecting the public from price fluctuations while ensuring that national fuel supplies remain sufficient and secure, it said.
© New Straits Times Press (M) Bhd