Starting from today, 10th June 2024, the price of diesel fuel in Peninsular Malaysia will increase to RM3.35 per litre. Additionally, diesel fuel prices will now float freely according to international oil prices.

The updated diesel prices are as follows:
Euro 5 B10/B20 (Black fuel gun): RM3.35/L
Euro 5 B7 (Blue fuel gun): RM3.55/L
(up from the previous RM2.15 and RM2.35.)

It is important to note that this price float applies only to Peninsular Malaysia. In East Malaysia (Sabah, Sarawak, and Labuan), diesel prices remain unchanged at RM2.15 and RM2.35 per litre.

To mitigate the impact of the price increase, the government launched the Budi Madani scheme on 27th May. Under this scheme, eligible individuals will receive a monthly diesel allowance subsidy of RM200. The scheme is designed to support private car owners, small farmers, and community gardeners who use diesel-powered transport.

According to the Ministry of Finance, the conditions and eligibility requirements for the subsidy are as follows:

1. Applicants must be Malaysian citizens.
2. The diesel vehicle must be privately registered with JPJ.
3. The vehicle must have a valid road tax.
4. Luxury cars less than 10 years old are excluded from this subsidy.

This new pricing strategy and subsidy scheme aim to balance the need for economic adjustments with support for those most affected by the changes.