PUBLISHED ONMay 29, 2026 2:19 AMBYSean LerAs oil prices eased this week on hopes of a peace deal between the US and Iran, Malaysia's Ministry of Finance announced on Hari Raya Haji (May 27) downward adjustments to the posted prices for petrol and diesel.
For the period between May 28 and June 3, the retail prices for unsubsidised Ron95 and Ron97 fell by 15 cents to RM3.92 (S$1.26) and 20 cents to RM4.65, respectively.
The price of diesel in Peninsula Malaysia was also set 10 cents lower at RM4.87 per litre.
In line with Malaysia Prime Minister Anwar Ibrahim's assurances ahead of Hari Raya Haji, the ministry has also kept the price of subsidised Ron95 unchanged at RM1.99 per litre.
In its statement, the ministry said the reductions for the week of May 27 to June 3 follow the decline in average international market prices for oil in the previous week.
However, it cautioned that the decrease does not indicate that the pressure on the global petroleum market has subsided as market uncertainty still continues as the Middle East situation crosses the three-month mark.
"[Last week], Brent crude oil prices remain above US$100 (S$127) per barrel, which is 50 per cent higher than the pre-conflict level of around US$60 to US$70 per barrel," it explained.
"This situation is also accompanied by an increase in shipping costs and insurance premiums due to associated risks of sea routes in the conflict zone."
Malaysia uses the automatic pricing mechanism formula — introduced in 1983 to stabilise the price of petrol and diesel based on market fluctuations — when determining weekly petrol prices.
Ahead of expected peak road travel between May 22 and June 7, Malaysia's largest highway operator Plus Malaysia had advised motorists to plan their trips early to avoid congestion.
The operator expects more than 2.2 million vehicles daily across its highway network due to the mid-year school holidays along with occasions including Hari Raya Haji, Vesak Day (May 31) and the official birthday of the King (June 1).
To manage the anticipated traffic surge, the operator will activate Smart Lanes at 33 congestion-prone locations to increase capacity, while deploying over 500 personnel for round-the-clock patrols.
It is also opening all toll plaza lanes and monitoring traffic real-time, and will work closely with the police, Road Transport department, Malaysian Highway Authority and other agencies to ensure smooth traffic and road safety throughout the festive period.
Nevertheless, the finance ministry reminded Malaysians to remain prudent: "The Government calls on the people to continue to practice prudent fuel consumption through more efficient travel planning and reducing unnecessary travel to help extend the country's supply."
According to PM Anwar, Malaysia has enough fuel supply till July.
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