KUALA LUMPUR: The retail price of RON97 petrol will drop by five sen from RM4.55 to RM4.50 per litre while RON95 and diesel prices will remain unchanged from Aug 4 to 10.
The Finance Ministry, in a statement Wednesday (Aug 3), said to protect consumers from the effects of global oil price hikes, RON95 and diesel would remain at RM2.05 per litre and RM2.15 per litre respectively although the market prices of the two products had risen beyond the current ceiling prices.
It said the prices were set based on the weekly retail prices of petroleum products in accordance with the Automatic Pricing Mechanism (APM) formula.
"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," it said. – Bernama
