KUALA LUMPUR — The government is maintaining targeted subsidised fuel prices for the public and specific sectors despite volatility in the global oil market.
The Ministry of Finance (MOF) said the subsidised price of RON95 under the BUDI MADANI Programme (BUDI95) will be maintained at RM1.99 per litre from April 9 to 15.
It said the unsubsidised retail price of the fuel will increase by 40 sen to RM4.27 per litre.
“For diesel, the subsidised retail price in Sabah, Sarawak and Labuan will remain at RM2.15 per litre, while the unsubsidised price in Peninsular Malaysia will increase by 70 sen to RM6.72 per litre for the same period,” it said in a statement today.
Since April 1, the BUDI95 eligibility limit has been temporarily adjusted to 200 litres per month, alongside diesel purchase limits to curb leakages and smuggling in Sabah, Sarawak and Labuan.
Meanwhile, the ministry said the price per litre under the Subsidised Petrol Control System (SKPS) and Subsidised Diesel Control System (SKDS) will remain at RM2.05 and RM2.15, respectively.
“The government is also maintaining the additional BUDI Diesel cash aid of RM100 for April, bringing the total assistance to RM300 for recipients of BUDI Individual and BUDI Agri-Commodity,” it said.
It said that although global crude oil prices fell today following the announcement of a ceasefire, the impact is not immediately reflected in Malaysia’s retail fuel prices.
The ministry explained that domestic pump prices are based on the average petrol and diesel prices of the previous week, rather than current-day prices.
“Therefore, current prices still reflect the high supply costs over the past five weeks, when global markets were at higher levels, reaching around US$150 per barrel for petrol products and US$250 per barrel for diesel products, which continues to influence domestic retail prices,” the statement said.
It added that the government will continue to closely monitor global developments and take appropriate measures to ensure the country’s energy supply remains stable and sufficient, while continuing to protect the public through existing targeted support mechanisms.
“The MADANI Government will continue to balance fiscal requirements with prudent public protection to ensure the country’s economic well-being and the livelihood of its citizens are preserved,” it said.
— BERNAMA
