Fuel prices in Malaysia will fall again from Thursday (November 5), with RON97 petrol cut by 20 sen and unsubsidised RON95 petrol and diesel each cut by 15 sen per litre, the Finance Ministry (MOF) announced in a statement on Wednesday, as reported by Malay Mail.
How prices are set
The ministry said the new prices are determined using the Automatic Pricing Mechanism (APM) formula. According to the report, current prices are RM4.90 per litre for RON97, RM4.42 for unsubsidised RON95 and RM5.27 for unsubsidised diesel.
What the new prices work out to
Applying the announced reductions to those current prices, RON97 would be about RM4.70 per litre, unsubsidised RON95 about RM4.27 and unsubsidised diesel about RM5.12. These figures are my own calculation from the report's numbers, so readers should check the ministry's official notice for the exact prices.
Why it matters
The cut follows movements in global oil prices, which have been volatile because of the Middle East conflict and talks involving the United States and Iran. Lower pump prices can ease transport and logistics costs, although the benefit to consumer prices depends on how quickly businesses pass on savings. Because the APM adjusts prices based on market conditions, they can rise as well as fall, so motorists should watch for the weekly announcement.
Drivers using subsidised programmes should check the rules that apply to them, as this announcement refers to unsubsidised fuel and RON97.
Source: Malay Mail - Finance Ministry: Price of RON97 down by 20 sen, RON95 and diesel drop by 15 sen
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