THE Government will raise the retail prices of unsubsidised RON97, RON95 and diesel for the week from July 23 to July 29 following a sharp increase in global oil prices triggered by escalating geopolitical tensions in West Asia.
The Ministry of Finance said effective July 23, unsubsidised RON97 will increase by 20 sen to RM4.20 per litre from RM4.00, while unsubsidised RON95 will also rise by 20 sen to RM3.62 per litre from RM3.42. Unsubsidised diesel will increase by 35 sen to RM4.42 per litre from RM4.07.
Subsidised fuel prices remain unchanged, with BUDI95 RON95 maintained at RM1.99 per litre, BUDI Diesel at RM2.10 per litre, the Subsidised Petrol Control System (SKPS) at RM2.05 per litre and the Subsidised Diesel Control System (SKDS) at RM2.15 per litre.
Eligible Malaysians will continue to purchase subsidised RON95 and diesel using their MyKad under the BUDI MADANI schemes, subject to eligibility requirements and monthly quota limits
The ministry said Brent crude prices climbed 16% over the past week after tensions between the United States and Iran escalated following the end of a ceasefire, raising concerns over global energy supplies, adding, shipping restrictions and reduced vessel movements through the Strait of Hormuz had intensified fears of supply disruptions, while tightening global oil inventories and potential interruptions to Saudi Arabian crude exports also contributed to higher prices.
The ministry said global petroleum markets were expected to remain volatile until the conflict is resolved, although renewed diplomatic efforts and ceasefire proposals had helped temper further price increases.
Despite the surge in international prices, the government said Malaysia's fuel supply remained adequate and secure. - July 22, 2026
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