From Malay Mail · · 1m 40s
Fuel prices jump 35 sen as Middle East tensions spike
Malaysia's petrol and diesel prices rise sharply due to global crude oil surge driven by West Asia conflict.
In brief
Malaysia's petrol and diesel prices rise sharply due to global crude oil surge driven by West Asia conflict. Fuel prices are rising across the board, but the government is protecting eligible citizens through targeted subsidies that cover over half the cost. Originally reported by Malay Mail.
Fuel prices jump 35 sen per litre
RON97 rises to RM4.85, unsubsidised RON95 to RM4.37, and unsubsidised diesel to RM5.27 from September 17-23.
“RON97 would increase to RM4.85 per litre from RM4.50, while unsubsidised RON95 would rise to RM4.37 from RM4.02”
West Asia tensions drive oil prices up
The 200-day conflict has escalated with Iranian attacks on vessels near the Strait of Hormuz, disrupting global oil supplies.
“Iran had attacked 10 vessels near the Strait of Hormuz in retaliation for US attacks on five Iranian tankers”
Strait of Hormuz traffic collapses
Vessel traffic through the critical shipping route has fallen to single-digit levels due to the surge in attacks.
“Vessel traffic through the Strait of Hormuz had fallen to single-digit levels following the surge in attacks”
Saudi pipeline temporarily shut down
Drone attacks forced the suspension of Saudi Arabia's East-West Pipeline, a key route that bypasses the Strait of Hormuz.
“drone attacks forced the temporary suspension of operations along Saudi Arabia's East-West Pipeline”
Brent crude oil soars past US$100
Oil prices reached nearly US$110 per barrel during the pricing calculation period, driven by supply disruptions and refining constraints.
“Brent crude oil prices back above US$100 per barrel, reaching nearly US$110 per barrel”
Russia refining disruptions add pressure
Refining capacity problems in Russia and limited crude oil supplies are keeping refining margins high and pushing petroleum prices up globally.
Government shields eligible citizens
Under BUDI Madani subsidies, eligible consumers pay RM1.99 for RON95 and RM2.10 for diesel, with the government covering 54 to 60 percent of costs.
“eligible recipients will continue to pay RM1.99 per litre for RON95, with the government bearing a subsidy of RM2.38 per litre”
Monthly fuel allowance increased to 300 litres
The basic monthly eligibility limit for BUDI95 and BUDI Diesel was raised to 300 litres, with pickup truck owners getting an additional 100 litres.
“basic monthly eligibility limit for BUDI95 and BUDI Diesel was raised again to 300 litres effective Sept 1”
The essence
Fuel prices are rising across the board, but the government is protecting eligible citizens through targeted subsidies that cover over half the cost.
