Government Reduces Diesel Retail Price By 5 Sen To RM3.30 Per Litre From 8 August 2024 To 14 August 2024

On 10 June 2024, the Government announced the retargeting of the diesel subsidy under the BUDI MADANI initiative. In line with the announcement, the retail price of diesel fuel was fixed at RM3.35 per litre compared to RM2.15 per litre.

Due to the recent decline in the global crude oil prices, the Government agrees to reduce the retail price of diesel in Peninsular Malaysia by 5 sen per litre to RM3.30 per litre, from 8 August 2024 to 14 August 2024.

The revision to the retail price of diesel in Peninsular Malaysia to RM3.30 per litre is in line with the current moderating trend in the global crude oil market prices. The Government will continue to monitor market developments and adjust the diesel fuel’s retail price based on global oil market fluctuations, whilst supporting price stability.

Therefore, based on the weekly retail pricing of petroleum products using the Automatic Pricing Mechanism (APM) formula, the retail prices of petroleum products from 8 August 2024 to 14 August 2024 are fixed as follows:

1. the retail price of RON97 remains unchanged at RM3.47 per litre;
2. the retail price of RON95 petrol remains unchanged at RM2.05 per litre;
3. the retail price of diesel in Peninsular Malaysia reduced by 5 sen at RM3.30 per litre; and
4. the retail price of diesel in Sabah, Sarawak and Labuan remains unchanged at RM2.15 per litre.

The Government will continue to monitor the trends of global crude oil prices and take appropriate measures to ensure the continued welfare and well-being of the people.

Ministry of Finance
Putrajaya
7 August 2024