KUALA LUMPUR: The retail price of RON97 petrol will drop by five sen from RM4.40 to RM4.35 per litre while RON95 and diesel will remain unchanged from Aug 18 to 24.
The Finance Ministry in a statement on Wednesday (Aug 17) said to protect consumers from global oil price hikes, RON95 and diesel would remain at RM2.05 and RM2.15 per litre respectively although the real market prices of the two products have increased 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
