PETALING JAYA: Fuel prices will increase across the board from Feb 20 to Feb 26, says the Finance Ministry.
It said that the retail price for RON97 petrol will increase by four sen from RM2.26 to RM2.30 per litre and the price of RON95 petrol will also increase by the same amount, from RM1.96 to RM2 per litre.
The price of diesel will remain unchanged at 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 19).
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.