PETALING JAYA: The fuel price of RON97 will go down four sen per litre, while RON95 and diesel prices remain the same for the following week.
The Finance Ministry said the price of RON97 would be set at RM2.66 per litre from RM2.70 per litre beginning Saturday (Nov 23) until Nov 29.
The prices of RON95 and diesel will stay at RM2.08 per litre and RM2.18 per litre respectively.
Last week, the price of RON97 shoot up from RM2.57 per litre to RM2.70 per litre.
"Based on the calculation under the Automatic Pricing Mechanism (APM), the retail prices for both RON95 and diesel should be RM2.40 per litre and RM2.25 per litre respectively," it said in a statement on Friday (Nov 22).
It added that the estimated subsidy to be borne by the government between Nov 23 and Nov 29 would be about RM111.56mil.
The weekly fuel pricing mechanism was reintroduced on Jan 5 under the APM.
Under this system, fuel prices are announced every Friday and remain in force for one week.