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View all search resultsMalaysia diesel, transport fuel prices up for second week in a row
The cost of the subsidised RON95 transport fuel, available for all Malaysian citizens, will be kept at 1.99 ringgit per litre, with the government expected to spend over 3 billion ringgit ($763.36 million) per month to fund its fuel subsidy bill, the ministry said in a statement late Wednesday.
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Petronas Twin Towers are shrouded by haze in Kuala Lumpur, Malaysia, September 9, 2019. Picture taken on September 9, 2019. (Reuters/Lim Huey Teng)
M
alaysia's finance ministry announced price hikes on diesel and other transport fuels for the second week in a row, driven by surging oil costs as a result of the ongoing conflict in the Middle East.
The cost of the subsidised RON95 transport fuel, available for all Malaysian citizens, will be kept at 1.99 ringgit per litre, with the government expected to spend over 3 billion ringgit ($763.36 million) per month to fund its fuel subsidy bill, the ministry said in a statement late Wednesday.
The price of RON97 transport fuel was increased to 4.55 ringgit per litre, from 3.85 ringgit last week, the statement said.
Diesel costs were raised to 4.72 ringgit per litre from 3.92 ringgit, but prices were unchanged at 2.15 ringgit per litre for diesel users in East Malaysia and subsidised vehicles in the land freight and public transportation sectors.
The price of unsubsidised RON95 fuel was maintained at 3.27 ringgit per litre to limit additional cost pressures during the upcoming Idul Fitri holiday season, the ministry said.
The government will also strengthen enforcement actions to tackle cross-border smugglers seeking to exploit the difference in fuel prices between Malaysia and neighbouring countries, the ministry said.
($1 = 3.9300 ringgit)
