PETALING JAYA: The price of RON97 will decrease by 22 sen per litre while RON95 and diesel prices will remain the same for the week starting Saturday (June 15).
Finance Minister Lim Guan Eng said the price of RON97 would go down from RM2.63 per litre to RM2.41 per litre.
Meanwhile, he said RON95 petrol and diesel prices remain the same at RM2.08 per litre and RM2.18 per litre, respectively.
Lim said the fuel prices would take effect from 12.01am on Saturday (June 15) until June 21.
"The reduction is due to the price of refined product petroleum in the world market that have shown a downward trend following the average decrease of Brent crude oil prices compared to the previous week.
"At the same time, current developments following tensions in the Gulf region could also impact world oil prices," he said.
He noted that under the Automatic Pricing Mechanism (APM) formula, RON95 and diesel should have been RM2.11 per litre and RM2.19 per litre, respectively.
"However, the prices of RON95 and diesel are capped at RM2.08 and RM2.18 per litre, respectively, following the government's decision to stabilise fuel prices and to reduce the people's cost of living," he said in a statement Friday (June 14).
The weekly fuel pricing mechanism was reintroduced on Jan 5 under the APM.
Under this system, weekly fuel prices are announced every Friday and remain in force for one week.