Fuel prices March 21-27: Huge reductions across the board

PETALING JAYA: Fuel prices are down massively across the board from March 21 to 27.

The Finance Ministry said that the price of RON97 will be priced at RM1.74 per litre, down 36 sen from RM2.10 per litre.

The prices of RON95 and diesel will be reduced by 38 sen and 12 sen respectively.

RON95 petrol will be priced at to RM1.44 per litre, down from RM1.82 per litre.

Diesel will be priced at RM1.75 per litre, down from RM1.87 per litre previously.

"The uncertainty in crude oil prices is affected by the misunderstanding among the oil-producing countries, as well as the Covid-19 pandemic which is affecting the global economy," the ministry said in a statement Friday (March 20).

The ministry added that the government would continue monitoring 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.