June 4, 2026
World
World
SYDNEY, June 4 — Tech giant Meta has criticised Australia’s “grossly unfair” proposal to require social media companies to pay for news content, saying it strongly opposes the draft legislation.
KUALA LUMPUR, June 4 — Retail prices for RON97 and unsubsidised RON95 petrol in Peninsular Malaysia will be reduced by 30 sen and 20 sen respectively, to RM4.35 and RM3.72 per litre, from June 4 to 10.
According to the Ministry of Finance (MOF), the adjustment follows the Automatic Pricing Mechanism (APM) formula for the week, reflecting a decline in average international oil prices in the previous week.
At the same time, the MADANI government will maintain targeted fuel subsidies for selected groups and sectors, including RON95 (BUDI95) at RM1.99 per litre, diesel in Sabah, Sarawak and Labuan at RM2.15 per litre, the Subsidised Petrol Control System (SKPS) at RM2.05 per litre, and the Subsidised Diesel Control System (SKDS) at RM2.15 per litre.
The ministry noted that at the current unsubsidised RON95 price of RM3.72 per litre, consuming 200 litres would cost RM744. It added that the government effectively absorbs up to RM346 per recipient under the full BUDI95 entitlement, with beneficiaries paying up to RM398 per month for 200 litres.
It also highlighted that the unsubsidised diesel price of RM4.67 per litre is more than double the subsidised rate of RM2.15, helping to ease the impact on transport and logistics costs for the public and businesses.
MOF said the price reduction this week does not indicate stability in the global oil market, noting that geopolitical tensions in West Asia continue to pose risks of sustained high crude prices in the medium term.
It added that several major Asian importers have increased crude purchases from alternative sources to offset supply disruptions, with imports from the United States reaching record levels, though still insufficient to fully replace affected supply routes.
“The global petroleum market remains constrained despite the recent decline in average prices. If the conflict persists, risks such as inventory depletion and supply shortages could place further upward pressure on oil prices,” the ministry said.
In view of this, the government has urged the public to practise prudent fuel usage to help safeguard national supply security. — Bernama
