PETALING JAYA: The fuel prices will increase across the board between the period of Feb 13 and 19.
The Finance Ministry said both the retail prices for RON97 and RON95 will increase by three sen each, from RM2.23 per litre to RM2.26 per litre, and RM1.93 per litre to RM1.96 per litre, respectively.
Meanwhile, the retail price of diesel will increase by four sen from RM2.11 per litre to RM2.15 per litre.
"The government will continue to monitor the trends of global crude oil prices and take appropriate measures to ensure the continued welfare and well-being of the people," the ministry said in a statement on Friday (Feb 12).
The weekly fuel pricing mechanism was reintroduced on Jan 5,2019, under the Automatic Pricing Mechanism (APM).
Finance Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz had also recently said that the price for RON95 petrol and diesel has been capped at RM2.05 per litre and RM2.15 per litre respectively, following the rise of global crude oil prices.
Tengku Zafrul said the newly announced price cap for RON95 and diesel is lower compared to the price cap implemented by the previous Pakatan Harapan government in 2019, which is RM2.08 per litre for RON95 and RM2.18 per litre for diesel.
"The government will cover the difference between the actual market price and the weekly retail price that is set weekly through the subsidy allocation," he said.