The retail price of RON97 petrol will drop by five sen from RM4.35 to RM4.30 per litre while RON95 and diesel will remain unchanged from Aug 25 to Aug 31.
The Ministry of Finance (MOF), in a statement today, 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 using 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 welfare and well-being of the people continue to be protected," it said.
- Bernama
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