Fuel Prices in Malaysia to Rise Amid Ongoing Global Tensions

The Malaysian government has announced that unsubsidized fuel prices will increase by 25 sen per liter until September 16. This decision was made in response to rising global crude oil prices, which have been affected by the ongoing conflict between the United States and Iran.

According to a statement from the Finance Ministry (MOF), RON97 will now cost RM4.50 per liter, up from RM4.25 previously. RON95 will rise to RM4.02 per liter from RM3.77, while unsubsidized diesel will increase to RM4.92 per liter from RM4.67.

The MOF attributed the price hike to Brent crude oil prices reaching US$97.31 a barrel on Monday, as well as increased geopolitical risk premiums due to ongoing conflicts and disruptions in petroleum supplies.