by BERNAMA / pic by MUHD AMIN NAHARUL
The Finance Ministry (MOF) today announced that the retail price for RON97 has risen four sen to RM2.53 per litre, for the period July 6 until 12 beginning midnight tonight.
The ministry said in a statement that the prices for RON95 and diesel remained unchanged at RM2.08 and RM2.18 per litre.
“Based on the calculations under the Automatic Price Mechanism (APM) formula the retail prices for RON95 petrol product and diesel for the same period should be RM2.23 and RM2.32 per litre respectively.
“However, retail prices for the two products had been retained at RM2.08 per litre and RM2.18 per litre in line with the government decision to stabilise retail prices for petroleum products and reducing the living cost of the people,” the statement said.
The estimated subsidy to be borne by the government during the period is RM99.53 million, the statement added.