Steady Decline in Fuel Prices Offers Relief to Malaysian Consumers

Updated Petrol Prices in Malaysia (19 September 2024 – 25 September 2024): RON97 and Diesel Prices Drop as RON95 Maintains Stability.

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Updated Petrol Prices in Malaysia (19 September 2024 – 25 September 2024)

– RON95: RM2.05 per litre (unchanged)

– RON97: RM3.19 per litre (-6 sen)

– Diesel: RM2.95 per litre (-6 sen)

Malaysian motorists have a reason to breathe a sigh of relief as the latest fuel price trends show a steady decrease across several categories.

The past month has witnessed a consistent drop in the prices of RON97 and Diesel, while RON95 remains stable due to government subsidies and the Automated Pricing Mechanism implemented in 2018.

From the beginning of August 2024, fuel prices have shown a noticeable downward trajectory. As per the latest data, RON97 has seen a decrement from RM3.47 per litre at the start of August to RM3.19 per litre as of 19 September. Diesel prices have followed a similar pattern, decreasing from RM3.25 to RM2.95 per litre over the same period.

Effective June 10, the government set the retail price of diesel at RM3.35 per litre at all petrol stations throughout Peninsular Malaysia, while the retail price of the fuel for Sabah, Sarawak, and Labuan remains at RM2.15 per litre.

As the nation heads towards the last quarter of the year, all eyes will be on the global economic landscape and its impact on oil prices. Meanwhile, the steady decrease in RON97 and Diesel is providing some financial breathing room for the everyday consumer and businesses alike.

FAQ

Factors Contributing to Malaysia’s Low Petrol Prices:

Malaysia is among the top countries with the cheapest fuel, primarily due to government subsidies and price controls. As a major oil and gas producer, Malaysia benefits from lower production costs, making fuel more affordable domestically.

Should You Wait to Refuel?

If you’re aware that fuel prices may drop next week and you can afford to wait, it could be worth delaying your refuel to save some money. However, this depends on your immediate needs.

Myths About Refuelling Times:

Refuelling in the morning or late at night to “get more fuel” is a common myth. Gas stations store fuel underground, where temperature changes have little effect on the amount of fuel you receive.

Impact of Electric Vehicles on Fuel Prices:

With the growing adoption of electric vehicles (EVs), demand for traditional fuels may decrease, potentially leading to lower petrol prices in the future as the shift toward cleaner energy continues.