PUBLISHED ONOctober 08, 2026 12:30 AMBYSean LerJust a week after Malaysia dropped its unsubsidised fuel prices for the first time in four weeks, the finance ministry said retail prices for unsubsidised Ron95 and Ron97 will increase by 15 sen each.
This was announced on Wednesday (Oct 7) evening during the the adjustment of petrol and diesel prices for the period of Oct 8 to 14.
But the price of unsubsidised diesel remains unchanged at RM5.27 (S$1.65) per litre.
The ministry had warned in its weekly price announcement on Sept 30 that the unpredictable geopolitical situation could continue to affect the price of petroleum products in the short term.
Explaining the increase, it noted that the price of Brent crude had hovered around US$100 per barrel during the automatic pricing mechanism (APM) calculation period.
"Price pressure is now increasingly focused on refined petroleum products," the ministry said, adding that China has also suspended most of its fuel exports for October, further limiting supply in the international market.
Given the ongoing Russia-Ukraine conflict and the Middle East situation, the ministry highlighted that the recovery of global refining capacity and refined petroleum product supply remains important to reduce price pressures in the medium term.
Malaysia uses the APM formula — introduced in 1983 to stabilise fuel prices in line with market fluctuations — when determining weekly petrol prices.
Following the latest round of increase, the new price for unsubsidised Ron95, Ron97, and diesel are RM4.67, RM5.15 and RM5.27 per litre, respectively.
Oil prices rose on Wednesday as the market weighed supply constraints from a storm heading for US oil-producing regions and attacks by Yemen's Iran-backed Houthis on Saudi Arabia against increased supplies of Middle East crude.
US forecasters said on Tuesday a storm forming in the Gulf of Mexico would become the first Atlantic hurricane of 2026 within two days and would likely hit oil and gas producing facilities.
The offshore areas in the Gulf in the storm's path produce 15 per cent of US crude oil and five per cent of the country's natural gas.
