KUALA LUMPUR: The retail prices of RON95 and RON97 petrol will be higher by 10 sen per litre while the price of diesel will remain at RM2.18 per litre for the week beginning midnight tonight up to March 1, it was announced yesterday.
A Finance Ministry statement said the price of RON95 petrol will be RM2.08 per litre, up from RM1.98 while that of RON97 will be RM2.38, up from RM2.28.
“The rise in the retail price of RON95 petrol is driven by the factor of the average increase in the cost of refined products in the world market compared to the previous week, from US$63.11 per barrel to US$66.91 per barrel,” the statement said.
For diesel products, the average cost of processed products increased significantly, from US$74.38 per barrel to US$79.11 per barrel under the Automatic Pricing Mechanism formula, it added.
The retail price of diesel should rightly be RM2.33 per litre, it said.
The statement said that in line with the government promise to stabilise the retail prices of fuels if the actual market price is higher than the set level, which is RM2.20 per litre for RON95 and RM2.18 per litre for diesel, the retail price of diesel is retained at RM2.18 per litre. – Bernama
