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Yesterday, 23 July, Prime Minister Datuk Seri Anwar Ibrahim announced that the price of RON95 will be reduced to RM1.99, a six sen or 2.93% decrease from the current price of RM2.05
The revised price will take effect from the end of September, alongside the launch of the targeted fuel subsidy mechanism.
While details remain unclear regarding which groups may be excluded from the new pricing scheme, Anwar assured that "ordinary Malaysians will not be affected".
He said around 18 million Malaysians, including car owners, motorcyclists, gig workers, and youths aged 16 and above, will benefit from the RM1.99 rate.
If you're curious about how much you could save in a year based on your average monthly fuel consumption, here's a quick breakdown:
If you spend RM50 a month on RON95, you will save:
• RM1.47 a month
• RM17.64 a year
If you spend RM100 a month on RON95, you will save:
• RM2.94 a month
• RM35.28 a year
If you spend RM200 a month on RON95, you will save:
• RM5.85 a month
• RM70.20 a year
If you spend RM300 a month on RON95, you will save:
• RM8.77 a month
• RM105.24 a year
If you spend RM400 a month on RON95, you will save:
• RM11.70 a month
• RM140.40 a year
If you spend RM500 a month on RON95, you will save:
• RM14.62 a month
• RM175.44 a year
One more full tank a year?
Although most Malaysians are likely to continue fuelling their vehicles as usual, the six sen per litre reduction effectively means you will be able to drive further for the same amount spent.
Regardless of what vehicle you drive, be it a motorcycle, a 1.5cc sedan, or an SUV, you will make approximately 1.18 fewer trips to the petrol station each year due to the lower RON95 price.
