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Commodities

Malaysia Fuel Prices Rise Again Amid US-Iran Conflict

Guavy AI Editorial Team
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Oil
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Fuel prices in Malaysia are set to rise again due to increasing global oil prices. The finance ministry announced on July 29 that retail prices for unsubsidised Ron95 and Ron97 petrol will increase by 20 sen from July 30 to August 5, reaching RM3.82 (S$1.21) and RM4.40 respectively.

The price of unsubsidised diesel will also go up by 20 sen to RM4.62 per litre, while the price of subsidised Ron95 and subsidised diesel will remain unchanged at RM1.99 and RM2.10 respectively.

The ministry cited the ongoing conflict between the US and Iran as a major factor in the increase, with Brent crude oil prices hitting their highest level in six weeks at US$96 per barrel on July 23.

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