Malaysia Fuel Prices Soar Again Amid Ongoing Middle East Tensions

Malaysia's fuel prices have increased for the fourth time in five weeks due to global oil disruptions, particularly in the Middle East. The escalation of conflict in the region has put pressure on crude oil supplies and refined petroleum prices. As a result, the retail prices for RON97, unsubsidized RON95, and diesel will each rise by 35 sen per liter from September 17 to 23.

The Finance Ministry attributed the increase to worsening tensions in the Middle East and disruptions to important oil infrastructure and shipping routes. The ministry cited a drone attack that temporarily halted Saudi Arabia's East-West pipeline, Iranian attacks on shipping, US strikes on Iranian tankers, and sharply reduced vessel traffic through the Strait of Hormuz.

The retail prices for RON97 will rise from RM4.50 to RM4.85 per liter, while unsubsidized RON95 and diesel will increase from RM4.02 to RM4.37 and RM4.92 to RM5.27 respectively.