PUBLISHED ONOctober 22, 2026 1:00 AMBYSean LerFor the second consecutive week, motorists in Malaysia will enjoy reduced pump rates after the finance ministry dropped its unsubsidised fuel prices for the week of Oct 22 to 28.
In its weekly fuel price announcement on Wednesday (Oct 21) evening, the ministry said that prices for its unsubsidised Ron95 and Ron97 will drop by 30 sen per litre, while the retail price of unsubsidised diesel will fall by 10 sen per litre.
The price of unsubsidised Ron97, Ron95 and diesel now stand at RM4.80 (S$1.50), RM4.32 and RM5.07 respectively.
The ministry pointed out that the adjustment was driven by expectations of increased supply from China, supported by exports from other Asian countries.
But it also stressed that continued high crude oil prices remain a risk should there be supply disruptions amid the ongoing geopolitical conflict.
"In the short term, global petroleum prices are expected to remain volatile," the ministry stated.
Malaysia uses the APM formula — introduced in 1983 to stabilise fuel prices in line with market fluctuations — when determining weekly petrol prices.
Meanwhile, across the Causeway, motorists in Singapore are seeing a second consecutive week of petrol price hikes after Chevron-owned Caltex announced a 3-cent per litre increase across its 92-, 98-octane and premium petrol offerings.
Oil prices edged higher on Wednesday on Middle East supply concerns, with traders wary of Red Sea shipping risks and threats to oil infrastructure in Saudi Arabia.
Brent crude futures rose 85 cents, or 0.78 per cent, to US$109.64 per barrel in the morning. It later eased to US$108.94 at 8.30pm.
On Tuesday, a supertanker caught fire after striking a sea mine south of the Strait of Hormuz while "violating" Iranian regulations, Iran's Revolutionary Guards Navy said.
According to shiptracker Kpler's note on Monday, at least 18 vessel attacks have been reported over two weeks.
"Attacks on tankers have expanded beyond the Strait of Hormuz," LSEG analysts said in a note.
"Iran has been targeting vessels as far south as the Gulf of Oman, threatening loadings outside of the Arab Gulf, as well as the ship-to-ship transfers that have helped to support Middle East loadings as the conflict has dragged on."
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