RAM Ratings said the decision to float the price of RON95 based on the Automatic Price Mechanism will lift headline inflation by 0.9 percentage points in 2019.
PETALING JAYA: The fuel price of RON97 will go up by three sen per litre, while RON95 and diesel prices remain the same for the week starting Saturday (March 9).
The Finance Ministry said the price of RON97 would increase to RM2.46 per litre from RM2.43 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 RON97 prices would take effect from 12.01am on Saturday until March 15.
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 RM2.16 and RM2.38 per litre respectively.
"However, the prices of RON95 and diesel for the period are capped at RM2.08 and RM2.18 per litre respectively, following a Cabinet decision to reduce the people’s financial burden,” it said in a statement on Friday (March 8).
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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