The Malaysian government switched to weekly updates of the petrol and diesel prices on 29 March 2017. In this article, we will share with you the latest diesel and petrol price list in Malaysia, and their historical prices. Please bookmark and check for our weekly updates!
Forecast Of The Next Diesel & Petrol Price List
Here is the forecast of the next diesel and petrol price list to be announced for 16 – 22 November 2017. The final changes may vary a bit, but the consensus is – the price of all fuel types will go up next week.
The Latest Diesel & Petrol Price List
Here is the latest diesel and petrol price list for the week of 16 November till 22 November 2017 :
The Malaysian Diesel & Petrol Price Float
The Malaysian obsession with tracking the diesel and petrol price list started when the Malaysian government removed the fuel subsidy, and introduced the managed float system on 1 December 2014.
Under this system, the government would set monthly pump prices based on the average global crude oil price of the previous month, taking into account “production costs, operation costs and profit margins“. The prices for the next month were usually announced at 9 PM on the last day of every month.
This monthly adjustment can result in rather large price swings, leading to massive jams at the petrol stations whenever Malaysians rushed to fill up before a price hike. It also made petrol station operators unhappy because they occasionally lost money due to the price swings.
On 22 March 2017, the Malaysian government announced a new weekly diesel and petrol price adjustment, as well as limited fuel price liberalisation. The changes include:
- switching to the Mean of Platts Singapore (MOPS) as the price index
- switching to a weekly price adjustment
- the new diesel and petrol price list will be announced every Wednesday, for the week going forward (Thursday to the following Wednesday)
- the announced fuel prices are “ceiling prices“, and petrol station operators are allowed to offer discounts if they wish
The Malaysian Diesel & Petrol Price History
The 2017 Diesel & Petrol Price Movement
Here is a general look at the price movement for all three fuel types since the weekly pricing mechanism was introduced:
The Malaysian Petrol Price History (RON 95)
These two charts (with different scales) compare the RON 95 prices over the last six weeks.
Lowest Price : RM 2.16 | Highest Price : RM 2.38 | Average : RM 2.24
The Malaysian Petrol Price History (RON 97)
These two charts (with different scales) compare the RON 97 prices over the last six weeks.
Lowest Price : RM 2.46 | Highest Price : RM 2.66 | Average : RM 2.54
The Malaysian Diesel Price History
These two charts (with different scales) compare the diesel prices over the last six weeks.
Lowest Price : RM 2.10 | Highest Price : RM 2.25 | Average : RM 2.16
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