Weekly fuel prices: RON97 down by one sen, RON95 and diesel unchanged

PETALING JAYA: The fuel price of RON97 will decrease by one sen per litre, while RON95 petrol and diesel prices remain the same for the week, starting Saturday (May 4).

The Finance Ministry said the price of RON97 will decrease from RM2.81 per litre to RM2.80 per litre.

RON95 petrol and diesel prices stay the same at RM2.08 per litre and RM2.18 per litre respectively.

The Finance Ministry said the new RON97 petrol prices would take effect from 12.01am on Saturday (May 4) until May 10.

The ministry noted that under the Automatic Pricing Mechanism (APM) formula, RON95 should be priced at RM2.50 per litre while diesel at RM2.47 per litre during the same period. 

"However, the prices of RON95 and diesel for the period are maintained at RM2.08 per litre and RM2.18 per litre respectively, in line with the government’s decision to stabilise prices for petroleum products and reduce the people's cost of living," it said in a statement on Friday (May 3)

The estimated subsidies borne by the government from May 4 to May 10 amounts to RM130.45mil. 

The weekly fuel pricing mechanism was reintroduced on Jan 5 under the APM.

Under this system, weekly fuel prices are announced every Friday and remains in force for one week.