Fuel prices up by as much as 80 sen per litre amid global oil surge

Fuel prices up by as much as 80 sen per litre amid global oil surge

KUALA LUMPUR: Fuel prices in Malaysia will rise by between 60 sen and 80 sen per litre from tomorrow following the surge in global oil prices triggered by tensions in West Asia.

The Finance Ministry in a statement said the retail price of RON97 will increase to RM3.85 per litre from RM3.25, while the unsubsidised price of RON95 will rise to RM3.27 per litre from RM2.67.

Diesel in Peninsular Malaysia will increase by 80 sen to RM3.92 per litre from RM3.12 previously.

Despite the adjustments, the government said it would continue to shield Malaysians from the full impact of higher global oil prices through targeted subsidies under the Budi Madani initiative.

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Subsidised diesel prices for the public land transport and goods transport sectors in Peninsular Malaysia will also remain at RM1.88 and RM2.15 per litre, respectively.

To further cushion the impact on eligible diesel vehicle owners, the government will raise interim cash assistance under the Budi Diesel Individu and Budi Diesel Agri-Komoditi programmes from RM200 to RM300 for March 2026.

An additional RM100 payment will be distributed starting March 17.

At the same time, enforcement efforts will be stepped up to curb leakages and prevent misuse of subsidised fuel, noting that fuel prices in Malaysia remain lower than in neighbouring countries.