Malaysia announced a rise in the retail price of unsubsidised RON95 petrol and diesel, effective from July 16 to July 22, 2026. The unsubsidised RON95 petrol price will increase by 5 sen per litre to RM3.42, while the diesel price will rise by 10 sen per litre to RM4.07 [1, 2, 3, 4].
The retail price of RON97 petrol will remain unchanged at RM4 per litre. Subsidised fuel prices also stay the same: RON95 under the BUDI95 program at RM1.99 per litre, BUDI Diesel at RM2.10, the Subsidised Petrol Control System (SKPS) at RM2.05, and the Subsidised Diesel Control System (SKDS) at RM2.15 per litre [1, 2, 3, 4]. Eligible Malaysians may purchase subsidised RON95 petrol and diesel using their MyKad under the BUDI95 and BUDI Diesel programs, subject to eligibility and monthly balance [2, 4].
The increases respond to rising crude oil prices following renewed US attacks on Iran and heightened concerns over the security of shipping routes through the Strait of Hormuz. These tensions have driven Brent crude oil prices up by around 20% over the past two weeks, reaching approximately US$85 per barrel [1, 2, 3, 4]. The Ministry of Finance said the "new US attack on Iran and concerns over the security of trade routes in the Strait of Hormuz have raised crude oil risk premiums and shipping costs" [2].
The ministry added, "As long as the conflict remains unresolved, petroleum product prices are expected to continue being affected by uncertainty in global markets" [1]. It also said the Madani government "will continue to adopt a prudent approach to shield the public from price fluctuations while ensuring that the country's fuel supply remains sufficient and secure" [1].
Officials urged the public to use fuel prudently by planning travel better and reducing unnecessary trips to conserve supply and ease subsidy spending pressure. "The Madani government urged the public to practise prudent fuel consumption through more efficient travel planning and reducing unnecessary journeys," the ministry said [4].
