RON97 price rises by seven sen, RON95 unchanged, diesel up in Peninsular Malaysia
In a statement today, the Ministry of Finance (MOF) said the retail price of diesel in Sabah, Sarawak and Labuan remains at RM2.15 per litre, while in Peninsular Malaysia it will rise by seven sen per litre, from RM2.74 to RM2.81, during the same period.
'In line with the increase in global oil market prices, the government has set the retail price of RON97 petrol at RM3.14 per litre, while the retail price of diesel in Peninsular Malaysia is RM2.81 per litre.
'The diesel price in Peninsular Malaysia remains lower compared to the floated price of RM3.35 per litre on June 10, 2024,' the statement said.
MOF said the prices were set based on the weekly retail pricing of petroleum products using the Automatic Pricing Mechanism (APM) formula.
It said the government will continue to monitor the impact of changes in global crude oil prices and take appropriate measures to ensure the welfare and well-being of the people are safeguarded. — Bernama
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Star
3 hours ago
- The Star
Malaysia's new maritime vessel takes shape
KUALA LUMPUR: Construction of the Malaysian Maritime Enforcement Agency's (MMEA) multi-purpose mission ship (MPMS) has begun with a keel laying ceremony at Desan Kaptanoglu Shipyard in Turkiye. The ceremony, officiated by MMEA director of engineering First Admiral Mohd Rizal Hishamuddin and MPMS project director Kpt Mohammad Nasir Man yesterday, marked the start of joining the main blocks for the largest vessel in the agency's history. Mohd Rizal said the initial phase of the keel laying involved the installation of blocks 107, 108, 207, and 208, which formed the ship's midsection, Bernama reported. 'This keel laying tradition marks the start of the main block assembly process and carries symbolic significance for the construction of a strategic national asset,' he said in a statement yesterday. Mohd Rizal said the 99m-long and 17m-wide MPMS was designed for deep-sea operations lasting up to 28 days without resupply, and would be deployed for surveillance in the Exclusive Economic Zone as well as to monitor areas inaccessible to smaller vessels. Equipped with advanced defence technology, he said the MPMS would feature an unmanned aerial vehicle, a 30mm cannon, X- and S-band radars, a helicopter landing pad, a rigid-hull inflatable boat, and four fast interceptor craft. 'The MPMS can travel at 20 knots, accommodate 70 crew members and 20 passengers, and will have onboard medical and detention facilities,' added Mohd Rizal. Meanwhile, Desan Kaptanoglu Shipyard board chairman Cenk Ismail Kaptanoglu said in the same statement that achieving the keel laying milestone so soon after the contract signing on May 20 demonstrated the efficiency and commitment of all parties involved. 'The steel blocks installed today will not only form the backbone of the MPMS but also symbolise the strategic relationship and determination of Turkiye and Malaysia to strengthen maritime security. 'As with our previous projects, we are confident the MPMS can be delivered ahead of the March 2027 schedule,' he said.
Barnama
5 hours ago
- Barnama
APEC Preparation Meeting Approves Seoul-Led Action Plan For Development
SEOUL, Aug 15 (Bernama-Yonhap) -- A Seoul-led action plan for the capacity building of developing economies of the Asia-Pacific Economic Cooperation (APEC) was approved at a meeting of senior APEC officials held to prepare the upcoming APEC summit in South Korea, the South Korean Foreign Ministry said on Friday. According to Yonhap News Agency, the five-step Capacity Building Need Initiative (CBNI) for developing APEC economies was endorsed at the APEC 2025 Korea Third Senior Officials' Meeting (SOM3), held in Incheon, about 40 kilometres west of Seoul. The two-day SOM3 brought together some 5,800 officials from 21 APEC member economies, delegations from observers and the secretariat to discuss a road map on strengthening the service competitiveness of the Asia-Pacific region and improving the environment for business and trade as well as devising a new financial action plan for APEC.
Barnama
5 hours ago
- Barnama
IMF Data: Kazakhstan Leads Post-Soviet States In GDP Per Capita
ASTANA, Aug 15 (Bernama-Kazinform) -- Kazakhstan's Gross Domestic Product (GDP) per capita in 2025 is expected to reach an impressive US$14,770, according to the latest International Monetary Fund (IMF) figures. Kazinform International News Agency reported that this figure is calculated at current prices, taking into account inflation and the present price level, making it a key indicator of economic well-being. By comparison, Russia, long considered the economic leader of the post-Soviet space, will stand at US$14,260, while energy-rich Turkmenistan will reach US$13,340. Notably, Kazakhstan has also surpassed China, where GDP per capita is projected at US$13,690. bootstrap slideshow The data highlights a substantial economic gap within the region. Kazakhstan is not only in the lead but is also showing consistent progress, overtaking countries with traditionally strong economies such as Russia and even large global players like China. Kazakhstan's achievement can be attributed to several key factors that have driven steady economic growth and strengthened its position in the region. The country holds some of the world's largest reserves of oil, gas, uranium, and other minerals. Exports of energy resources and raw materials remain a central driver of the economy. In recent years, Kazakhstan has worked to diversify its exports by developing processing industries and increasing the share of high value-added products. The government has pursued consistent reforms aimed at improving the business climate, attracting foreign investment, and developing infrastructure. State programmes have helped modernise the economy and boost competitiveness, while investments in sectors such as transport, logistics, and technology have played a significant role. Spending on education, healthcare, and social infrastructure has raised living standards, which in turn has supported productivity growth and expanded the domestic consumer market. Kazakhstan's strategic location in Central Asia makes it a vital link between Europe and Asia. Participation in initiatives like the Belt and Road, along with active cooperation with Russia, China, the European Union, and other partners, has expanded the country's economic opportunities.
