Retail price for RON95 and RON97 rises one sen, diesel unchanged

Petroleum retail prices for RON95 and RON97 increased by one sen per litre while the price for diesel remained at RM2.18 per litre effective at midnight tonight until Feb 22.

According to a statement from the Finance Ministry today, the retail price for RON97 rose to RM2.28 per litre compared with RM2.27 per litre previously while  RON95 rose to RM1.98 per litre from RM1.97 per litre.

“Prices of petroleum products processed in the world market had increased compard to the previous week, that is, from US$62 per barrel to US$63 for RON95 petrol and from US$73 per barrel to US$74 per barrel for diesel. 

For diesel products, the rise in the market price should cause the retail price under the Automatic Price Mechanism (APM) formula to increase one sen per litre to RM2.20 per litre.

“However, in line with the pledge of the Pakatan Harapan Federal Government to stabilise the retail diesel price at RM2.18 per litre if the price exceeded the level, the retail price for diesel for the period Feb 16 to 22. 2019 is maintained at RM2.18 per litre,” the statement added.