RON97 price up three sen

Kuala Lumpur: The retail price of RON97 petrol will go up by three sen per litre to RM2.50 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 25 to 31.

The Ministry of Finance, in a statement Wednesday, 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 take appropriate measures to ensure the continued welfare and wellbeing of the people, it added.