Global fuel price is on the spike. Many countries respond to the spike in global world fuel by increasing the local price of fuel, including Indonesia which regulates the fuel price. Unlike Indonesia, Malaysia states that they will drop off fuel prices to protect citizens from the hike in global fuel price.
Indonesia increases fuel prices on 3 September 2022, including Diesel fuel, Pertalite, and Pertamax to survive the spike in the world’s fuel prices. Malaysia, on the other hand, announced that they will reduce fuel prices. The price of fuel type RON97, from IDR14,400 to IDR14,285, while the price of RON95 stays at IDR 6,823 and Diesel fuel at IDR7,156. Compared to Indonesia’s fuel price, Pertamax (RON92) costs IDR 14,500 while Pertalite (RON89) costs IDR 10,000 and DIesel fuel at 6.800.
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Malaysia reduces its fuel costs to shield its population from an increase in the price of fuel globally. In addition, Malaysia continues to observe changes in the price of fuel globally to make the best decisions for its citizens.
