PETALING JAYA: The fuel prices of RON97 will increase by seven sen, while RON95 and diesel will remain the same from Saturday (Oct 12).
The Finance Ministry said the price of RON97 would be increased to RM2.67 per litre, while RON95 petrol and diesel will be maintained at RM2.08 per litre and RM2.18 per litre respectively.
This will take effect from 12.01am on Saturday until Oct 18.
"Based on the calculation under the Automatic Pricing Mechanism, the retail prices for both RON95 and diesel should be increased to RM2.37 per litre and RM2.27 per litre respectively," said the ministry's statement on Friday (Oct 11).
However, they 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.
The ministry also said that the estimated subsidy borne by the government between Oct 12 and Oct 18 was about RM112.64mil.
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.