Fuel prices March 14 to 20: It's down across the board, again

PETALING JAYA: The fuel prices are set to go down across the board once again from March 14 to 20.

The Finance Ministry said that the price of RON97 will be priced at RM2.10 per litre, down nine sen from RM2.19 per litre.

The prices of RON95 and diesel will be reduced by seven sen and nine sen respectively.

RON95 will go down from RM1.89 per litre to RM1.82 per litre while for diesel, it will be priced at RM1.87 per litre from RM1.96 per litre previously.

"The uncertainty in crude oil prices is affected by the misunderstandings among the oil-producing countries, as well as the Covid-19 pandemic which is affecting the global economy.

"As a measure to stabilise the drop in fuel prices for users and instability in oil produce for the government, the retail prices for both RON95 and diesel have been both reduced to RM1.82 per litre and RM1.87 per litre respectively," the ministry said in a statement Friday (March 13).

The ministry added that the government will continue monitoring the changes in crude oil prices for the welfare of the rakyat.

The weekly fuel pricing mechanism was reintroduced on Jan 5 last year under the Automatic Pricing Mechanism (APM).

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