Kuala lumpur: Retail prices of unsubsidised petrol and diesel will remain unchanged from July 9 to 15, as international petroleum market prices continue to ease from the peak levels during the recent conflict. The Ministry of Finance (MoF), in a statement today, confirmed that the retail price of RON97 will remain at RM4 per litre, while RON95 and diesel will remain at RM3.37 per litre and RM3.97 per litre, respectively.

According to BERNAMA News Agency, global crude oil prices continued to moderate over the past week, driven by a decline in the geopolitical risk premium, a recovery in supply flows, and intensified price competition among major producers. However, recent developments in West Asia, including the latest United States strikes on Iran, indicate that risks to prices and supply remain as long as the conflict remains unresolved.

The Ministry further elaborated that in the medium term, expectations of a global oversupply following the recovery in production and moderation in demand are expected to limit further price increases. However, any new disruptions to key trade routes could trigger significant price volatility.

MoF also stated that while the national fuel supply remains adequate for now, the MADANI government urges the public to continue practising prudent fuel consumption. Efficient travel planning and fewer unnecessary trips can help stretch the national supply and ease pressure on subsidy expenditures.