Fuel prices rise as Govt calls for prudent consumption

THE Government has announced a modest upward adjustment in retail fuel prices while urging consumers to adopt more prudent usage, as global oil markets remain volatile amid sustained geopolitical tensions in West Asia and crude prices holding above US$100 per barrel.

In a statement on Wednesday, the Ministry of Finance (MOF) said the MADANI government is encouraging energy conservation to help preserve national fuel supply stability, citing continued uncertainty in the international petroleum market.

It said elevated prices have been driven by unresolved regional conflicts that have tightened global crude supply chains and disrupted production and refining capacity across key oil-producing regions.

Under the Automatic Pricing Mechanism (APM), which sets weekly retail fuel prices based on previous market averages, pump prices in Malaysia have been revised for the period 7 May to 13 May 2026.

MOF announced that RON97 remains unchanged at RM4.90 per litre while RON95 has increased by five sen to RM4.02 per litre, compared with RM3.97 previously and Diesel in Peninsular Malaysia has also risen by five sen to RM5.17 per litre, up from RM5.12.

Despite the adjustments, the government reaffirmed its commitment to targeted subsidy mechanisms designed to shield households and essential sectors from global price shocks.

Subsidised retail prices remain unchanged, with RON95 under the BUDI95 scheme maintained at RM1.99 per litre. Diesel in Sabah, Sarawak and Labuan remains at RM2.15 per litre, while SKPS is set at RM2.05 per litre and SKDS diesel at RM2.15 per litre.

The ministry said the policy reflects a balanced approach aimed at cushioning consumers from volatile global energy markets while maintaining fiscal discipline and ensuring adequate national fuel supply.

It added that the government will continue to adopt prudent fiscal management measures to address cost-of-living pressures while safeguarding long-term energy security. - May 6, 2026