On September 20, 2023, the Malaysian government announced a significant adjustment in fuel prices, set to take effect on September 27, 2023. This announcement primarily impacts RON97 gasoline, while other fuel types remain stable. Let’s delve into the details of this decision and its implications.
RON97 Price Increase
The most notable change is the 10 sen (Malaysian cents) increase in the price of RON97 gasoline. As of September 27, 2023, RON97 will be at a price of 3.47 Malaysian Ringgit per liter, which is approximately equivalent to Rp11,350. This adjustment positions RON97 as a slightly cheaper alternative to Pertamax Turbo, which boasts a RON98 rating and has been priced at Rp15,900 in Indonesia since September 1.
Steady RON95 and Diesel Prices
In contrast to the RON97 price hike, RON95 gasoline and diesel prices remain unaffected. RON95 will continue to be available at 2.05 Malaysian Ringgit per liter, roughly equivalent to Rp6,700. Similarly, diesel prices will stay at 2.15 Malaysian Ringgit per liter, translating to approximately Rp7,000. It’s worth noting that both RON95 and diesel are subsidized fuels in Malaysia, a measure aimed at supporting the public.
Pertamax and Subsidized Pertalite
For consumers using Pertamax, a gasoline variant with a RON92 rating, the price will be 13,300 Malaysian Ringgit per liter. Pertalite, another subsidized option, will remain priced at 10,000 Malaysian Ringgit per liter. These choices provide consumers with various price points and fuel quality options to cater to their needs.
Government’s Commitment to Price Control
The Malaysian Ministry responsible for this decision has emphasized its commitment to closely monitoring global crude oil price trends. This vigilance ensures that the government can take appropriate actions to safeguard the well-being and prosperity of the population.
The Ministry has expressed its dedication to shielding consumers from the impact of rising global oil prices. To achieve this, the government has decided to maintain the maximum prices for RON95 at RM2.05 per liter and diesel at RM2.15 per liter. This decision holds even in situations where the market-driven prices exceed these predefined caps.
Conclusion: Balancing Act in Fuel Pricing
The Malaysian government’s decision to increase the price of RON97 while keeping RON95 and diesel prices stable underscores their commitment to addressing the challenges posed by fluctuating global oil prices. By maintaining affordable rates for the essential RON95 and diesel fuels, the government aims to alleviate the economic burden on citizens.
This pricing strategy allows consumers to make informed choices based on their fuel requirements and budgets. While RON97 may see a modest increase, RON95 and diesel will continue to be accessible at affordable prices, ensuring the continued mobility and well-being of the Malaysian population.
As the global oil market remains dynamic and unpredictable, Malaysia’s government remains vigilant and prepared to adapt its pricing policies to support its citizens and sustain economic stability. This balance between market realities and consumer affordability remains a key consideration in Malaysia’s fuel pricing strategy.