Commodity Market Report
Malaysia retail fuels long-term outlook
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Report summary
Road fuel demand in Malaysia is on the rise, with the number of passenger cars exceeding 15 million in 2024. Carbon-based road fuel consumption is expected to grow steadily until the 2030s due to the growing population and economy and the limited penetration of electric vehicles (EVs). Despite having eight refineries, Malaysia remains a net gasoline importer due to insufficient domestic production capacity to meet growing demand. There are almost 4,200 service stations in Malaysia. Around 85% of the retail volumes are sold by the four top players in the market: Petronas, Shell, Petron and Caltex (Chevron).
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