Prices Surge: Comparison of Fuel Prices in Neighbouring Countries and Indonesia

The Malaysian government has officially raised fuel prices for the period from 26 March to 1 April 2026. The increases affect non-subsidised fuels including RON 97, RON 95, and diesel in Peninsular Malaysia.

In a statement from the Ministry of Finance on Wednesday (25/3/2026), quoted from thestar.com, diesel prices in Peninsular Malaysia surged by 80 sen to RM5.52 per litre or Rp23,607 per litre (exchange rate Rp4,276.33/RM).

Meanwhile, diesel prices in Sabah, Sarawak, and Labuan remain unchanged at RM2.15 per litre or Rp9,194 per litre.

For petrol, RON 97 prices rose by 60 sen to RM5.15 per litre or Rp22,023 per litre. RON 95 also increased by 60 sen to RM3.87 per litre or Rp16,549 per litre in the same period.

However, the Malaysian government has assured that subsidised RON 95 fuel under the Budi95 programme will remain at RM1.99 per litre or Rp8,509 per litre to protect consumer purchasing power.

The Ministry of Finance emphasised that the government will continue to review and adjust retail prices for RON 97, RON 95, and diesel in line with the latest developments in the global oil market, while prioritising price stability.

“The government will also closely monitor global crude oil price trends and take appropriate measures to ensure the welfare and well-being of the people remain protected,” the statement said.

As is known, several countries in the ASEAN region have begun raising fuel prices. This is inseparable from geopolitical conflicts in the Middle East, particularly the war involving Iran-Israel and the United States since late February 2026.

For example, fuel prices in Vietnam have surged sharply since the outbreak of the Middle East conflict, with significant increases particularly for diesel.

Quoting AFP on Wednesday (25/3/2026), based on data from Vietnam’s Ministry of Industry and Trade, diesel prices have more than doubled, or around 105%, since 26 February 2026, just two days before the United States and Israel launched attacks on Iran.

The Vietnamese government set the latest diesel price at 39,660 dong per litre or US1.50perlitre, approximatelyRp25, 351perlitre(exchangerateRp16, 901/US), up from 19,270 dong last month. Meanwhile, RON 95 petrol prices have also surged nearly 68%, from 20,150 dong to 33,840 dong per litre in the same period.

In Singapore, fuel prices as of 20 March 2026 reached nearly Rp55,000 per litre in some cases. For instance, at Caltex petrol stations, RON 98 or Platinum 98 was priced at SGD4.160 per litre or approximately Rp54,986 per litre (before discount) or SGD3.952 or approximately Rp52,237 per litre (after discount).

Diesel was priced at SGD3.730 or Rp49,303 per litre (before discount) and SGD3.544 or Rp46,844 per litre. RON 92 or Regular 92 was SGD3.430 per litre or Rp45,337 per litre. Meanwhile, RON 95 or Premium 95 was SGD3.470 or Rp45,866 per litre.

Fuel Prices in Indonesia

On the other hand, all fuel providers in Indonesia have uniformly raised their fuel product prices at petrol stations in March 2026. Among those increasing prices are PT Pertamina (Persero), Shell Indonesia, BP-AKR, and PT Vivo Energy Indonesia petrol stations.

For example, Pertamina’s RON 92 or Pertamax has risen to Rp12,300 per litre from Rp11,800 per litre in February. Pertamax Green or RON 95 is now Rp12,900 per litre from Rp12,450 per litre.

Pertamax Turbo is Rp13,100 per litre from Rp12,700 per litre. Dexlite is Rp14,200 per litre from Rp13,250 per litre. And Pertamina Dex is Rp14,500 per litre from Rp13,500 per litre.

Subsidised Pertamina fuels such as RON 90 or Pertalite remain unchanged at Rp10,000 per litre. Subsidised diesel is also the same at Rp6,800 per litre.

So, compared to fuel prices in Southeast Asian countries, which ones are cheaper? Here is data on fuel prices in Southeast Asia quoted from the Global Petrol Prices website as of 23 March 2026:

1. Singapore

Average fuel price for petrol in Singapore reaches US$2.580 per litre or Rp43,627 per litre. Meanwhile, diesel reaches US$2.847 per litre or Rp48,142 per litre.

2. Philippines

Average fuel price for petrol in the Philippines reaches US$1.438 per litre or Rp24,316 per litre. Meanwhile, diesel reaches US$1.712 or Rp28,949 per litre.

3. Thailand

Average fuel price for petrol in Thailand reaches US$1.382 per litre or Rp23,369 per litre. Meanwhile, diesel reaches US$1.010 or Rp17,079 per litre.

4. Laos

Average fuel price for petrol in Laos reaches US$1.767 per litre or Rp29,879 per litre. Meanwhile, diesel reaches US$1.523 per litre or Rp25,753 per litre.

5. Cambodia

Average fuel price for petrol in Cambodia reaches US$1.658 per litre or Rp28,036 per litre. Meanwhile, diesel reaches US$1.633 per litre or Rp27,614 per litre.

6. Myanmar

Average fuel price for petrol in Myanmar reaches US$0.950 per litre or Rp16,064 per litre. Meanwhile, diesel reaches US$1.051 per litre or Rp17,772 per litre.