New Diesel Price Set at RM3.35/Litre in Peninsula Starting June 10: Government Targets RM4 Billion Savings

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Diesel Price in Peninsula Set at RM3.35 per Litre from 12:01 AM Monday

New Diesel Price Set at RM3.35Litre in Peninsula Starting June 10 Government Targets RM4 Billion Savings
New Diesel Price Set at RM3.35Litre in Peninsula Starting June 10 Government Targets RM4 Billion Savings

New Diesel Price to Take Effect

PUTRAJAYA: Starting from 12:01 AM on Monday, June 10, the price of diesel at all retail stations across the Peninsula will be set at RM3.35 per litre. This new price reflects the unsubsidised market rate based on the May 2024 average, as calculated using the Automatic Pricing Mechanism formula.

Government Announces Major Subsidy Reforms

Finance Minister II Datuk Seri Amir Hamzah Azizan announced that the introduction of the fixed price, along with the implementation of a targeted diesel subsidy, is expected to save the government RM4 billion annually. This significant measure aims to bolster the country’s financial health over the long term.

“The decision to implement the targeted subsidy was not made lightly, but it has been given particular attention to address significant financial leakages,” said Amir Hamzah. “We have endured substantial losses annually, which have negatively impacted the nation’s economy.”

A Move Towards Economic Stability

Prime Minister Datuk Seri Anwar Ibrahim highlighted the importance of this policy in his National Address on May 21. He stated that the Cabinet’s agreement to implement the targeted subsidy for diesel would play a crucial role in saving the government approximately RM4 billion each year.

While this targeted subsidy will be in place for the Peninsula, it is important to note that consumers in Sabah and Sarawak will not be affected by these changes.

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