PUBLISHED ONOctober 30, 2026 5:57 AMBYSean LerAfter two consecutive weeks of price reductions, motorists in Malaysia are facing higher pump prices this week after finance ministry raised its unsubsidised fuel prices for the week of Oct 29 to Nov 4.
In its weekly fuel price announcement, the ministry said that prices for unsubsidised Ron95 and Ron97 will go up by 10 sen per litre, while unsubsidised diesel rate will increase by 20 sen per litre.
The price of unsubsidised Ron97, Ron95 and diesel now stand at RM4.90 (S$1.55), RM4.42 and RM5.27 respectively.
Explaining the latest round of pricing, the ministry pointed out that Brent crude oil prices rose last week on concerns over the risk of supply disruptions in the Middle East.
This, alongside the volatile Middle East situation, including threats to energy infrastructure and shipping lanes, have continued to pose doubts on the supply.
"Global petroleum prices are expected to remain volatile in the medium term," the finance ministry said.
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 third consecutive week of petrol pries hikes.
Oil prices rose on Friday — set for a fourth monthly gain — as an attack on a tanker in the Strait of Hormuz on Thursday highlighted the continuing supply risks from the US-Israeli war on Iran, which has entered its eighth month.
It was not immediately clear who was behind the attack.
Brent crude futures for December, which expires on Friday, advanced US$1.20, or 1.04 per cent, to US$116.08 a barrel as at 11.25am (Singapore time).
The more-active January contract gained US$1.39 to US$112.19.
"Continued kinetic action around the Strait of Hormuz amidst doubts of a viable diplomatic pathway are keeping oil prices elevated in expectation of an escalation of the conflict in coming weeks," said Saul Kavonic, head of energy research at MST Marquee.
On Thursday, the Houthis said they had attacked several sites in Saudi Arabia, including its largest oil refinery, Ras Tanura, the Rabigh refinery and a production facility in Abqaiq owned by state company Saudi Aramco, while a Saudi-led coalition said it had intercepted a cruise missile launched by the Houthis towards the kingdom's western region.
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