How is diesel pricing kept at RM2.15 in Sabah, Sarawak and Labuan?

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Diesel Pricing in Sabah, Sarawak, and Labuan Remains Fixed at RM2.15 Per Litre

The retail price for diesel in Sabah, Sarawak, and Labuan has been maintained at RM2.15 per litre. This pricing is determined by the Ministry of Finance, which sets fuel costs based on a weekly retail pricing mechanism. The government actively monitors global crude oil prices to implement measures aimed at protecting the public's welfare.
Pricing Mechanism and Government Oversight

The Ministry of Finance (MOF) establishes retail fuel prices using the Automatic Pricing Mechanism (APM) formula, which considers the weekly retail pricing of petroleum products. This system allows the government to respond to fluctuations in the global oil market. The MOF's stated objective is to monitor the impact of changes in global crude oil prices and enact suitable strategies to safeguard the well-being of the populace.
Regional Price Discrepancy

While diesel prices in Peninsular Malaysia are subject to weekly adjustments and have seen an increase to RM2.81 per litre, the price in Sabah, Sarawak, and Labuan remains fixed at RM2.15 per litre. This fixed rate in the East Malaysian states and Labuan indicates a specific policy approach for these regions, distinct from the pricing adjustments seen in the peninsula.
Protection of Public Welfare

The government's continuous monitoring of global crude oil prices and its commitment to safeguarding public welfare are central to its fuel pricing policies. The decision to maintain diesel prices at RM2.15 per litre in Sabah, Sarawak, and Labuan, despite potential shifts in global market rates, aligns with this overarching goal of ensuring affordability and protecting citizens from excessive price hikes.

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How is diesel pricing kept at RM2.15 in Sabah, Sarawak and Labuan?

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