Malaysia raised the retail prices for unsubsidised fuels for the week of July 23 to July 29, 2026. RON95 and RON97 prices increased by 20 sen per litre to RM3.62 and RM4.20 respectively, while unsubsidised diesel rose by 35 sen to RM4.42 per litre, effective July 23 [1, 2, 3].
Subsidised fuel prices remained unchanged, with BUDI95 RON95 at RM1.99 per litre, BUDI Diesel at RM2.10 per litre, Subsidised Petrol Control System (SKPS) at RM2.05, and Subsidised Diesel Control System (SKDS) at RM2.15 [1, 2, 3]. Eligible Malaysians can still purchase subsidised fuel via MyKad under the BUDI MADANI schemes, subject to quotas [3].
The price increases are linked to a 16% rise in Brent crude oil prices over the past week, reaching about US$84.78 per barrel. This surge followed escalated conflict in West Asia between the US and Iran after the ceasefire ended, sparking concerns over disruptions to global oil supplies [1, 2, 3]. Restrictions on shipping and reduced vessel traffic through the Strait of Hormuz intensified fears of supply shortages. Other contributing factors included tightening global oil inventories and possible interruptions to Saudi Arabian oil shipments [1, 2, 3].
The Malaysian Ministry of Finance said, "只要冲突没有最终解决，全球石油市场预计仍保持波动。尽管重启谈判的努力和拟议的停火协议抑制了部分价格上涨，但尚未消除市场对原油供应中断的担忧," indicating that volatility will persist until the conflict is resolved despite diplomatic efforts [2]. The ministry added that "尽管目前我国的燃油供应仍充足 ，但呼吁民众继续节约使用燃油，规划更有效率的出行计划，并减少不必要的出行，减轻补贴支出的压力," urging the public to plan more efficient travel and reduce unnecessary trips to ease subsidy spending [2].
The previous week (July 16-22) had seen smaller increases, with unsubsidised RON95 rising by 5 sen and diesel by 10 sen per litre [1]. Malaysia’s domestic fuel supply remains secure for now despite the price pressures [1, 2, 3].
