Fuel price for RON95, RON97 and diesel will go up by five cents per litre respectively effective tomorrow, according to petrol dealers.Following the hike, RON95 will be priced at RM1.75, RON97 at RM2.10 and diesel at RM1.60.
This is the first increase since April.
The government determines the price of fuel through a managed float.
It takes into account several factors, including the global price of crude oil and the country's currency strength in the previous month.
Brent crude was at a low US$36 per barrel in March but gradually climbed up to around US$48 in April and has to date maintained at the same level.
The ringgit as of today, at RM3.98 to a US dollar, is also slightly weaker than it was at the end of April when it stood at RM3.93 to a US dollar.
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