The government will lower the retail prices of unsubsidised petroleum products for the week from Aug 13 to Aug 19, following a decline in global crude oil prices amid hopes of a resolution to the conflict between the United States and Iran.
The unsubsidised price of RON97 will be reduced by 20 sen to RM4.15 per litre, from RM4.35 previously, while unsubsidised RON95 will fall by 15 sen to RM3.62 per litre from RM3.77.
Unsubsidised diesel will also be reduced by 10 sen to RM4.47 per litre, compared with RM4.57 previously.
The decline followed weaker global oil prices during much of the previous week, as expectations of a possible resolution to the US-Iran conflict eased concerns over disruptions to global energy supplies.
Brent crude fell below US$80 a barrel at the beginning of the Automatic Pricing Mechanism (APM) calculation period, its lowest level in three weeks.
Eligible consumers under BUDI MADANI RON95 (BUDI95) will continue to pay RM1.99 per litre, with the government bearing a subsidy of RM1.63 per litre, equivalent to about 82% of the unsubsidised price.
For eligible users under BUDI MADANI Diesel (BUDI Diesel), the subsidised price remains at RM2.10 per litre, with the government absorbing RM2.37 per litre, or about 113% of the pump price.
Prices under the Subsidised Petrol Control System (SKPS) and Subsidised Diesel Control System (SKDS) will also remain unchanged at RM2.05 and RM2.15 per litre respectively.
