PETALING JAYA: The retail price of RON97 petrol will go up by 2 sen to RM2.69 per litre from June 24-30, says the Finance Ministry.
The prices of RON95 petrol and diesel remain unchanged at RM2.05 and RM2.15 per litre respectively, the Finance Ministry said in a statement on Wednesday (June 30).
It said that the fuel prices were determined using the Automatic Pricing Mechanism (APM) formula.
The government, it said, would continue to monitor the changes in crude oil prices and take necessary measures to ensure the welfare of the rakyat remains protected.
"To protect the consumers from global oil price increases, the government will maintain the ceiling price of RON95 at RM2.05 per litre and diesel at RM2.15 per litre, even though the market price APM for RON95 and diesel has increased beyond the current ceiling price," read the statement.
The weekly fuel pricing mechanism was reintroduced on Jan 5, 2019, using the APM.
Under this system, fuel prices are announced every Wednesday and remain in force for one week.