Kuala lumpur: The MADANI Government is upholding the price of RON95 fuel at RM1.99 per litre under the BUDI95 initiative, despite increases in the pump prices of RON95 petrol and diesel due to rising global oil prices.

According to BERNAMA News Agency, the Ministry of Finance (MOF) announced that recipients of the BUDI DIESEL cash assistance will see an increased amount of RM300 per month during the interim period. The ministry emphasized the government's commitment to protecting Malaysians through the targeted subsidy initiative BUDI MADANI and additional cash assistance amidst ongoing global oil market uncertainties.

The ministry attributed the fuel price increases to a surge in global oil prices following a conflict in West Asia after an attack on Iran. On March 9, Brent crude oil prices peaked at US$119 per barrel before declining to around US$90 per barrel, though market conditions remain uncertain.

Due to these circumstances, the pump prices of RON95 and RON97 have risen by 60 sen per litre, while the diesel pump price in Peninsular Malaysia increased by 80 sen per litre. MOF reported that the retail fuel prices for March 12-18 are RON97 at RM3.85 per litre, RON95 (without subsidy) at RM3.27 per litre, and diesel at RM3.92 per litre.

To mitigate the impact of rising petroleum product prices on the public, the government will maintain the subsidized price of RON95 at RM1.99 per litre through BUDI95 and keep the subsidized diesel price for the public in Sabah and Sarawak at RM2.15 per litre.

Additionally, the government will sustain subsidized diesel prices for public land transport and goods transport sectors in Peninsular Malaysia at RM1.88 and RM2.15 per litre, respectively. It will also increase interim cash assistance for eligible diesel vehicle users under BUDI Diesel Individu and BUDI Diesel Agri-Komoditi to RM300 from RM200 for March 2026, with the additional RM100 payment beginning on March 17, 2026.

The ministry stated that enforcement efforts will be strengthened to curb leakages and prevent the misuse of subsidized fuel, considering that fuel prices in Malaysia remain lower compared to neighboring countries. It reiterated the MADANI Government's commitment to balancing public protection with fiscal responsibility in subsidy management.