KUALA LUMPUR: The retail price of RON97 petrol will drop by five sen from RM4.20 to RM4.15 per litre while prices of RON95 and diesel will remain unchanged from Sept 15 to 21.
The Finance Ministry, in a statement on Wednesday (Sept 14), said to protect consumers from global oil price hikes, the ceiling price of RON95 and diesel would remain at RM2.05 per litre 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 using the Automatic Pricing Mechanism (APM) formula.
"The government will continue to monitor the trend of global crude oil prices and take appropriate measures to ensure the continued welfare and well-being of the people," it said. – Bernama