Unsubsidised fuel prices will fall across the board from Thursday (Nov 12), the finance ministry announced on Wednesday evening, with RON97 getting the biggest cut of 50 sen a litre.
Under the new weekly prices, unsubsidised RON95 will drop by 40 sen to RM3.87 a litre and unsubsidised diesel by 25 sen to RM4.87 a litre, while RON97 will sell at RM4.20 a litre. The new prices are effective until Nov 18.
The cuts are steeper than last week’s, when the ministry cut unsubsidised RON95 and diesel by 15 sen to RM4.27 and RM5.12 a litre respectively, and RON97 by 20 sen to RM4.70.
Subsidised prices are unchanged. RON95 bought under the BUDI95 scheme stays at RM1.99 a litre, while diesel under the BUDI Diesel initiative remains at RM2.10 a litre. Petrol under the subsidised petrol control system (SKPS) stays at RM2.05 a litre, and diesel under the subsidised diesel control system (SKDS) at RM2.15 a litre.
In its statement, the ministry said the federal government would continue to protect the public and businesses from the impact of global uncertainty through subsidies.
“As announced in the 2027 budget, the government expects to spend RM40 billion on fuel subsidies next year to help alleviate the rising cost of living,” it said.
The ministry linked the reductions to weaker global crude oil prices and a bigger supply of refined fuel in the region. RON97 is not subsidised, while the unsubsidised RON95 and diesel rates apply to buyers who are not covered by the targeted subsidy schemes, such as foreign motorists, so the weekly changes feed straight into what they pay at the pump.
Finance Minister II Amir Hamzah Azizan said earlier this month that the B40 and M40 groups benefit most from the BUDI95 subsidy, which lets eligible Malaysians buy RON95 at RM1.99 a litre.
The ministry announces retail fuel prices every week.