“What’s the petrol price for this week?” What we once took for granted has now become a weekly phenomenon. Here we help you make sense out of the yo-yo movements of the weekly petrol price.
Updated Prices for Petrol from 21 November 2024 to 28 November 2024:
RON95 : RM2.05 per litre (0 sen)
RON97 : RM3.19 per litre (0 sen)
Diesel : RM2.95 per litre (0 sen)
Updates: For the week of 21 November 2024 to 28 November 2024, fuel prices for RON97 and Diesel remain unchanged at RM3.19 and RM2.95 per litre, respectively. Subsequently, the fuel price for RON 95 has remained unchanged as of 25 September 2024.
The price for RON95 has remained unchanged over 2018 as the government had implemented the Automated Pricing Mechanism, but the implementation of the Targeted Diesel Subsidy that has just taken place effectively from 10 June 2024 at 12:00 AM has increased the Diesel price by RM1.20 to RM3.35/litre based on the Automatic Pricing Mechanism for May. The Ministry of Finance (MOF) has continued to reduce the retail price of RON 97 and diesel, reducing it by another RM0.15 as of 12 September 2024, based on global oil market fluctuations, whilst supporting price stability.
Want to save more money while pumping petrol? Check out our list of the best cashback credit cards for petrol and save even if the weekly petrol prices go up!
Petrol Fuel Price History
Should I Pump Petrol In Accordance to Price Changes Every Week?
While that solution may help you save a few ringgit every other week, however, the oil prices in Malaysia is determined by the global markets and makes it difficult to figure out the costs in the long run.
Along with fluctuating fuel prices, the development and usage of electric cars are starting to gain traction around the world. The adoption of electric cars could also start to affect the prices of petrol and diesel prices in Malaysia.
How Will Fuel Prices be Affected by Electric Cars?
As more people adopt the usage of electric cars that are more energy efficient, cleaner and less complex, it is expected to make fuel obsolete and less demanded. Following that logic alone, this would cause petrol and various fuel and oil prices in Malaysia to drop.
When that happens, many of the oil and gas giants will be forced to shrink its output or even close up certain divisions within the organisation. With lesser people using fuel based cars, the cost to produce petrol and diesel will begin to increase as it no longer will be able to leverage at the scale it once used to enjoy. Collectors of classic cars, luxury models and those who have yet to make an upgrade into electric cars may end up paying a premium for a full tank of petrol.
Read Also: 8 Genius Tips To Save on Petrol Expenses
A lot of this would depend on the timeline of change. In the short term, as demand starts to gradually fall, companies may face an oil supply glut and drop its prices to remain competitive. In the long run, when the competition falls out of the market, the few remaining companies would have total control to increase the fuel prices in order to cater to parts of the world which have yet to make the switch.
To an average consumer, the main hurdle would be the prices of the car itself. An electric vehicle (EV) such as a Nissan Leaf costs approximately RM180,000. Going green feels far from being cheap. However, the Malaysian Green Technology Corporation (MGTC) claims that you can expect to save up to 69% on fuel cost and 64% on maintenance as compared to driving a conventional combustion engine. Of course, this also depends on the fuel prices in Malaysia at the point in time.
While it is apparent that the public is not moving toward electric vehicles, the government has come up with a plan to increase the number of electric cars from 100 in the year 2015, to 100,000 electric vehicles (EV) by the year 2030. The added incentive is to bring down the pollution levels in Malaysia and grow the country toward an electric vehicle hub.
At this point in time, the needed infrastructure is also proving to be a real limitation for the growth of EV in Malaysia. Having said that, progress is being made. Greentech Asia has a five-year plan in place in order to grow the [number of charging stations to 25,000 throughout Malaysia. Once that has been achieved, oil prices in Malaysia may be at a tipping point.
To prove that the country is showing slow adaptation, even Malaysian owned Perodua has stated that it will not be manufacturing EVs in the near future due to the lack of charging ports and necessary infrastructure needed to sustain such vehicles. Many people still fear travelling long distance with these vehicles as charging ports are still limited and the battery tends to carry a charge enough for a 200km to 300km journey.
While many would lobby and want the government to speed up the progress of EV expansion to save the environment and reduce the consumer’s driving costs, the transition will need to be gradual, as it needs to protect the oil and gas (O&G) industry in the process. The O&G sector provides a huge chunk of revenue and jobs to the country. Transitioning will take at least five to ten years to create new jobs for those who stand to lose their existing ones. On top of that, petrol stations will have to endure a tonne of costs to restructure and renovate their premises from a traditional petrol station which in turn, will further stretch the timeline.
FAQ on Fuel Types, Prices and Differences
What is RON?
People tend to associate RON 95 and RON 97 with the quality, hence the difference in price. RON is just an abbreviation of Research Octane Number (RON) which signify the branches of the hydrocarbons.
What Is The Difference Between RON95 And RON97?
The numbers such as 95 or 97 signify the number of hydrocarbon branches. The higher numbers indicate its higher level of compression required to detonate the fuel. Higher compression levels may mean more power output, depending on the type of vehicle specifications.
Is RON97 Better Than RON95?
With fuel prices in Malaysia shifting from week to week, some may intend to be adventurous and swap between the two, if the price is right.
However, according to renowned car enthusiast Paul Tan, there is very little difference in terms of fuel efficiency between RON95 and RON 97. Tan ran an experiment using two of the same car models, filling both car types with RON95 and RON97 on each Volkswagen model. The difference in mileage ranged from 1.92% to 3.15%, making the difference negligible.
Why Do Some Cars Use RON97?
Different cars require a different level of combustion in order to efficiently power the car forward. Typically, the bigger car engines tend to require a higher level of compression that make the car run smoothly. That is why the high-performance vehicles and larger cars require RON97 instead of RON95.
Can I Use RON95 For My RON97 Motor Vehicle?
Technically, you could fill it up with RON95 and it will run. However, it will not run efficiently and cause a lot of damage in the long run. Higher octane requirement engines use RON97 to ensure the fuel does not combust in the chamber before the spark plug fires. When compression of combustion happens at the wrong time, it could result in a problem known as engine knocking. This would also contribute to sluggish engine performance on top of the long-term damage.
Can I Use RON97 For My RON 95 Motor Vehicle?
According to a report by The Star, Greg Engeler of Chevron product engineering mentions that using RON 97 fuel on a RON 95 requirement engine will not cause any damage. The only thing you would end up hurting is your own wallet, as there are no particular gains in terms of additional performance. RON97 is typically used in higher compression engines which are usually recommended for cars with a capacity of 2,500cc and above.
What Is The Difference Between Petrol And Diesel?
Basically, both diesel and petrol come from mineral oil but are refined differently. Refining diesel is said to be easier and produces more energy during combustion. The different fuels are usually made for different engine types.
What Is The Difference Between Petrol And Diesel Engines?
Besides the obvious difference in petrol and diesel prices in Malaysia, the distinctive difference between the two engines is due to the way combustion happens. A petrol engine mixes the fuel with air and gets compressed by pistons. The spark plugs then ignite the compressed mixture to move the pistons.
On the other hand, diesel engines compress the air before adding the fuel. High compression creates high temperatures and heat to combust the diesel fuel when added. The compression does all the work without any spark plugs to ignite the combustion.
Are Diesel Cars More Efficient Than Cars Powered By Petrol?
As each litre of diesel produces more energy than petrol, it is said to be more efficient. Being more efficient means it requires less diesel to produce the same amount of power as petrol. In addition to that, the price of diesel in Malaysia is lower than RON95 which makes it the obvious winner in terms of efficiency.
Is Diesel Bad For The Environment?
The Express UK also reported that petrol cars emit 10 times more carbon emission, as compared to diesel cars. This reference of diesel engine cars is being made to the modern cars that have also been fitted with filters to reduce emission, not the old models that are more than a decade old.
Does Driving Style Make A Difference In Fuel Consumption?
According to The Economist, Jeremy Clarkson and the gang from Top Gear did a test between a Toyota Prius and a BMW M3. They maxed out the Prius and really put the pedal to the metal, while the BMW M3 was only supposed to cruise along and keep up. The two cars could not be more diverse in terms of engine size. It was a 1.5-litre engine versus a 4.0-litre monster. The results showed that the environmentally friendly Toyota and BMW had a very small difference of 17.2 miles per gallon as compared to 19.4 miles per gallon on the BMW.
The basic notion is the more aggressive you are with the accelerator, the more fuel you tend to burn. Of course, it would make more sense to have two identical cars and drive both cars differently, but in total Top Gear style, they ran a high performing BMW against a Toyota Prius to prove how much driving style matters when it comes to fuel consumption.
Read Also: What Is The Best Petro Credit Card In Malaysia?
Does Tyre Pressure Improve Fuel Efficiency?
The Michelin tyre website in the UK simply states that tyres that are under-inflated by 15psi increase fuel consumption by approximately 6%. Over time, this could add up to quite a significant amount. On top of fuel savings, having the right tyre pressure also helps to maintain it for longer durations and ensures your grip isn’t affected.
RON 95 vs RON 97 vs Diesel Cars in Malaysia
Between the three different types of fuel, neither one is more superior than the other. It is a matter of using the right fuel for the right car. If you are concerned about the cost involved over the long term, you could download the different car models and its various fuel efficiency levels to help with your next big ticket purchase.
What Are The Common Car Models in Malaysia That Run on RON 95, RON 97 and Diesel?
Curious to know what are the most used cars in Malaysia? Here are some of the common car models in Malaysia that run on RON 95, RON 97, and Diesel. This will be separated in accordance to the cars that are in still production by the car producer so don’t be surprised if your Perodua Kembara or Proton Wira did not get a mention here.
For instance, here are a list of cars made by Perodua :
Proton
Honda
While it is uncertain when electric cars may be more widespread and possibly shift the entire fuel price paradigm in Malaysia, we can be sure of some near-term savings if you use the right credit card for your petrol consumption needs. Use the credit card comparison page to make an informed decision if you need a different credit card or if your current one is sufficiently providing the rewards you deserve.
What do you think about our fuel price update article? Let us know in the comment section below.
- TAGS:
- Petrol Price
- Petrol Price Malaysia
- RON95 Price Malaysia
