August 14, 2024
Relevant Info As of the last update in 2023, Malaysia's petroleum prices are set by the government through a managed float system. This system takes into account the global crude oil prices and the exchange rate of the Malaysian Ringgit (MYR). The prices for different petroleum products—such as RON95, RON97, and diesel—are usually reviewed and updated weekly, typically on a Wednesday.RON95: The most used fuel, subsidized by the government, keeps prices stable and affordable for everyday motorists.RON97: This higher-grade, non-subsidized petrol fluctuates weekly, reflecting global market trends.
Diesel: Subsidized like RON95, diesel’s stable pricing is crucial for the transportation and logistics sectors.
The government monitors these prices closely, adjusting policies to mitigate the impact of rising global oil costs on the economy.