by BERNAMA/ pic by MUHD AMIN NAHARUL
The retail price of RON97 petrol fell one sen per litre from RM2.51 to RM2.50 a litre for the Aug 31 to Sept 6 period.
A Finance Ministry statement today announced the retail prices of RON95 and diesel stayed at RM2.08 and RM2.18 per litre respectively for the same period.
Based on calculations under the Automatic Pricing Mechanism (APM), the retail prices of RON95 and diesel products for the period should have been RM2.20 and RM2.23 per litre.
“Nonetheless the retail prices of both products were maintained in line with the decision of the government to stabilise the retail prices of petroleum products and protect the economic wellbeing of the people,” said the statement.
The estimated subsidy absorbed by the government for the period amounted to RM48.84 million.