Malaysia raises fuel prices by 15 sen after China’s export ban

MALAYSIA (NATIONWIDE, INCLUDING PUMP STATIONS), 8 OCTOBER 2026 —

Malaysia increased unsubsidised petrol prices by 15 sen per litre from 8 October, reversing last week’s cuts, as China’s suspension of most fuel exports for the month tightened regional supplies.

The Ministry of Finance said RON95 will now retail at RM4.67 per litre, up from RM4.52, while RON97 rose to RM5.15 from RM5.00. Diesel remained unchanged at RM5.27. The adjustments follow a 5 sen drop in RON95 and RON97 prices the prior week, and a 15 sen cut in diesel.

China’s October export ban—cited by the ministry as the primary driver—has strained global refined petroleum markets, pushing prices higher across Asia. The ministry noted that while domestic fuel supplies remain adequate, price pressure is concentrated on refined products, with risks lingering from geopolitical tensions in West Asia and the Russia-Ukraine conflict.

Subsidised fuel under the Budi scheme remains unchanged: RON95 stays at RM1.99 per litre (subsidised by RM2.68), while diesel holds at RM2.10 (subsidised by RM3.17). The government covers 57% of RON95’s unsubsidised cost and 60% of diesel’s, the ministry said.

The new prices apply until 14 October, with the ministry urging consumers to use fuel efficiently amid ongoing volatility. It also highlighted the need for global refining capacity recovery to ease medium-term price pressures.