Starting today, consumers in Malaysia will face higher costs at the pump as the retail prices for petrol and diesel have officially increased by 5 sen per litre. This latest adjustment brings the price of RON95 to RM2.59 per litre under the current managed float system for unsubsidised fuel. Similarly, the premium RON97 petrol is now priced at RM3.15 per litre, reflecting the ongoing volatility in global crude oil benchmarks and the strength of the Ringgit.

The price hike also affects diesel consumers in Peninsular Malaysia, where the retail price has risen to RM3.04 per litre. This move follows the government's targeted subsidy rationalisation plan, which aims to align domestic fuel prices more closely with international market rates while reducing the national fiscal burden. For many logistics and transport operators, this 5 sen increase represents a marginal but cumulative rise in operational costs that may impact the pricing of consumer goods.

Economists suggest that the hike is a direct result of recent geopolitical tensions in the Middle East, which have caused a slight surge in Brent Crude prices over the past week. While the 5 sen increment is relatively small, the Ministry of Domestic Trade and Cost of Living has assured the public that they will continue to monitor for any illegal price manipulation by traders. Consumers are advised to plan their travels efficiently and utilize public transport where possible to mitigate the impact of these rising costs.