The retail prices of RON97 petrol will go up by seven sen per litre to RM2.47 while the prices for RON95 petrol and diesel will remain unchanged at RM2.05 and RM2.15 per litre respectively for the period of March 18 to March 24.
The Finance Ministry, in a statement yesterday, said the new prices were based on the weekly retail pricing of petroleum products using the Automatic Pricing Mechanism (APM) formula.
"To protect 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," it said.
The government will keep monitoring the trends of global crude oil prices and taking appropriate measures to ensure the continued welfare and well-being of the people, it added.
- Bernama
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