Non-subsidised Fuel Prices Fall This Week, but Only in Malaysia

Amid rising global oil prices, the Malaysian government has once again cut the prices of non-subsidised fuel. The reductions apply from 15 to 21 October 2026.

The move comes exactly a week after retail prices for non-subsidised RON95 and RON97 were each raised by 15 sen, equivalent to Rp660 per litre.

Malaysia’s Finance Ministry said on Wednesday (14 October) that non-subsidised RON95 and RON97 prices had each fallen by 5 sen, or about Rp220 per litre. The price of non-subsidised diesel was reduced by 10 sen, equivalent to about Rp440 per litre.

The ministry attributed the cuts to improved supplies of refined petroleum products in regional markets after China resumed fuel exports for October. South Korea has also continued supplying petroleum products to the region.

“These developments have helped ease pressure on supplies,” the Finance Ministry said.

However, the ministry warned that escalating conflict in the Middle East, including the latest attacks on Saudi Arabia, had increased the risk of supply disruptions while oil prices remained high.

“Price volatility is expected to continue in the medium term,” it said.

Malaysia uses the Automatic Pricing Mechanism (APM), introduced in 1983, to set fuel prices each week. The formula aims to stabilise fuel prices by adjusting them in line with market fluctuations.

Following the latest reductions, non-subsidised RON97 costs RM5.10 (Rp22,423 per litre), RON95 RM4.62 (Rp20,312 per litre), and diesel RM5.17 (Rp22,730 per litre).

Meanwhile, global oil prices edged up on Wednesday after Saudi state oil company Aramco was attacked. Brent crude futures rose to US$105.83 (Rp1.9 million) per barrel at 16:38 Western Indonesian Time.

UBS analyst Giovanni Staunovo said attacks on ships passing through the Strait of Hormuz, as well as military action between Saudi Arabia and the Houthi group, had also supported oil prices. The developments have raised market concerns that oil exports from the region could fall, although he added that exports had so far remained relatively stable.