PETALING JAYA: The fuel price of RON97 will go up by five sen per litre, while RON95 and diesel prices remain the same for the week starting Saturday (March 2).
In a statement on Friday (March 1), the Finance Ministry said the price of RON97 would increase to RM2.43 per litre from RM2.38 per litre.
At the same time, RON95 and diesel prices were maintained at RM2.08 per litre and RM2.18 per litre respectively.
The Finance Ministry said the new prices would take effect from 12.01am on Saturday (March 2) until March 8.
The ministry also said that in line with the decision made during a Cabinet meeting on Feb 27, the cap for RON95 had been reduced from RM2.20 to RM2.08 per litre.
"The reduction in the price cap for RON95 is in line with the Pakatan Harapan government's commitment to reduce the cost of living," it said.
Based on the new Automatic Pricing Mechanism (APM), the ministry said that the prices of RON95 and diesel from March 2-8 should have been RM2.13 and RM2.38 per litre respectively.
"However, the price of RON95 and diesel for the period is maintained at RM2.08 and RM2.18 per litre respectively," it added.
The weekly fuel pricing mechanism was reintroduced on Jan 5 under the new APM.
Under the system, weekly fuel prices are announced every Friday and will remain in force for one week.
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