How does the current Peninsular Malaysia diesel price compare to the RM3.35 floated price?

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Peninsular Malaysia Diesel Price Remains Below Floated Rate

The current retail price of diesel in Peninsular Malaysia, set at RM2.81 per litre for the week of June 19 to 25, is still lower than the RM3.35 per litre floated price recorded on June 10, 2024. This adjustment reflects changes in global oil market prices, with the government utilising the Automatic Pricing Mechanism (APM) formula to determine these weekly rates.
Diesel Price Adjustment for the Week

For the period spanning June 19 to June 25, the retail price of diesel in Peninsular Malaysia has been set at RM2.81 per litre. This represents an increase of seven sen from the previous rate of RM2.74 per litre.
Comparison to Floated Price

Despite the recent increase, the diesel price in Peninsular Malaysia remains significantly below the RM3.35 per litre price that was floated on June 10, 2024. This indicates that the government continues to subsidise diesel to some extent, keeping the consumer price lower than market-determined levels.
Pricing Mechanism

The Ministry of Finance (MOF) announced these price adjustments based on the weekly retail pricing of petroleum products, which is calculated using the Automatic Pricing Mechanism (APM) formula. This mechanism aims to align local prices with global oil market fluctuations.
Government Oversight

The government has stated its commitment to continuously monitor the impact of global crude oil price changes. Appropriate measures will be considered to ensure the welfare and well-being of the people are safeguarded amidst these price adjustments.

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How does the current Peninsular Malaysia diesel price compare to the RM3.35 floated price?

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