KUALA LUMPUR, March 20 — The US–Israel war against Iran has pushed up global oil prices and made fuel more expensive in many countries. 

As the fighting has spread across the Middle East, including missile and drone attacks on energy facilities and shipping lanes near the Strait of Hormuz, supplies have been disrupted and prices at the pump have jumped around the world.

In Malaysia, unsubsidised fuel prices have risen for the second week in a row. 

RON95 now costs RM3.27 per litre and RON97 is RM4.55 per litre, up from RM2.59 and RM3.15 per litre respectively at the end of February.

Diesel in Peninsular Malaysia has climbed from RM3.04 to RM4.72 per litre over the same period, while diesel in Sabah, Sarawak and Labuan remains at RM2.15 per litre.

But as an oil-producing country with fuel subsidies, how does Malaysia compare with other countries also facing rising fuel prices?

Fuel prices amid the Middle East conflict

Malaysia currently has the lowest standard fuel price among the countries compared, with unsubsidised RON95 at RM3.27 per litre from March 19 to 25.

Thailand follows with Gasohol95 priced at RM3.87 (32.05 baht) per litre, while Australia’s Premium95 — equivalent to Malaysia’s RON95 — stands at RM7.09 (AU$2.54) per litre, based on March 20 data from its government-run FuelCheck website.

Regular fuel in the US is priced at RM4.05 (US$1.02) per litre, while the UK’s E10 petrol stands at RM7.66 (1.45 pounds) per litre.

Singapore has the highest price among these countries, with its 95 Octane at RM10.70 (SG$3.47) per litre — meaning a full tank for a Perodua Bezza (36 litres) would cost about RM385.

Diesel prices show a similar pattern across these countries.

Thailand recorded the lowest diesel price this week at RM3.68 (30.44 baht) per litre, about 30 sen lower than Malaysia’s RM4.72 per litre in Peninsular Malaysia.

Thailand has also capped its diesel price at RM3.99 (33 baht), while Malaysia’s diesel price of RM4.72 applies only to Peninsular Malaysia, with Sabah, Sarawak and Labuan maintaining a lower rate of RM2.15 per litre.

In the US, diesel is priced at RM5.32 (US$1.35) per litre, while in Australia it stands at RM7.81 (AU$2.80) per litre.

The UK’s diesel is priced at RM8.77 (1.66 pounds) per litre, while Singapore again records the highest diesel price at RM11.19 (SG$3.63) per litre — meaning a full tank for an 80-litre Toyota Hilux would cost about RM895.

Fuel prices before the Middle East conflict

For comparison, fuel prices between February 16 and 23 — before the conflict began — were notably lower.

At the time, Malaysia had the lowest unsubsidised petrol price among these countries, with RON95 at RM2.54 per litre — about 70 sen lower than current levels.

Thailand’s Gasohol95 was priced at RM3.62 (29.94 baht) per litre.

Australia’s Premium95 stood at RM5.22 (AU$1.87) per litre, while regular petrol in the US was priced at RM3.03 (US$0.77) per litre.

The UK’s petrol was around RM6.97 (1.32 pounds) per litre, while Singapore’s 95 Octane petrol was RM8.87 (SG$2.88), about RM1.83 lower than current prices.

For diesel, Malaysia’s price was RM2.99 per litre in mid-February — an increase of RM1.73 compared to current levels.

Thailand’s diesel price saw only a slight increase of about six sen from RM3.62 per litre.

In the US, diesel was priced at RM3.82 (US$0.97) per litre, while in Australia it stood at RM5.10 (AU$1.83) per litre.

The UK’s diesel was priced at RM7.45 (1.41 pounds) per litre, while Singapore recorded the largest increase among these countries, rising by RM2.99 from RM8.20 (SG$2.66) per litre.

As global oil prices rise, Malaysia continues to manage domestic fuel costs. Fuel prices here remain relatively lower compared to many other countries, including some with stronger economies.

However, uncertainty remains over how the conflict may evolve and the extent to which it may affect fuel prices locally.