Govt Maintains Targeted Fuel Subsidies, RON95 Remains At RM1.99 Per Litre - MOF
KUALA LUMPUR, March 11 (Bernama) -- The MADANI Government is maintaining the price of RON95 fuel under the BUDI95 initiative at RM1.99 per litre, even though the pump prices of RON95 petrol and diesel have increased following the rise in global oil prices.
The Ministry of Finance (MOF), in a statement today, said that recipients of the BUDI DIESEL cash assistance will receive an increased amount of RM300 per month for the interim period. “The MADANI Government will continue to protect Malaysians through the targeted subsidy initiative BUDI MADANI, as well as additional cash assistance, while the global oil market continues to face uncertainty,” it said.
The ministry also stated that the fuel price increase occurred following a surge in global oil prices due to the conflict in West Asia after an attack on Iran. On March 9, the price of Brent crude oil reached US$119 per barrel before falling to around US$90 per barrel, although market conditions remain uncertain.
In light of this, it said the pump prices of RON95 and RON97 have increased by 60 sen per litre, while the diesel pump price in Peninsular Malaysia increased by 80 sen per litre.
MOF informed that the retail fuel prices for the period March 12-18 are as follows - RON97: RM3.85 per litre; RON95 (without subsidy): RM3.27 per litre; and diesel: RM3.92 per litre.
However, to protect the public from the impact of rising market prices for petroleum products, the government will maintain the subsidised price of RON95 for the public at RM1.99 per litre through BUDI95 and maintain the subsidised diesel price for the public in Sabah and Sarawak at RM2.15 per litre.
In addition, the government will also maintain subsidised diesel prices for the public land transport and goods transport sectors in Peninsular Malaysia at RM1.88 and RM2.15 per litre, respectively, as well as increase the interim cash assistance for eligible diesel vehicle users under BUDI Diesel Individu and BUDI Diesel Agri-Komoditi to RM300 from RM200 for March 2026. The additional payment of RM100 will be made starting March 17, 2026.
“At the same time, enforcement efforts will be intensified to curb leakages and prevent the misuse of subsidised fuel, as fuel prices in Malaysia remain lower compared to neighboring countries,” the ministry said.
It added that the MADANI Government remains committed to balancing protection for the public with fiscal responsibility in managing the nation’s subsidies.
-- BERNAMA