The retail price of RON97 petrol will be higher by five sen per litre while the price for RON95 petrol and diesel will remain unchanged at RM2.05 and RM2.15 per litre respectively for the period of March 11 to 17.
The new price for RON97 is RM2.40 per litre, according to a statement from the Finance Ministry today.
It said the new prices were based on the weekly retail pricing of petroleum products using the Automatic Pricing Mechanism (APM) formula.
"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 for both products has increased beyond the current ceiling price," the ministry said.
The government will continue to monitor the trends of global crude oil prices and take appropriate measures to ensure that the welfare and well-being of the people continue to be maintained.
- Bernama
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