KUALA LUMPUR, Jan 18 — The retail price of RON95 petrol will rise by 6 sen to RM1.98 per litre effective midnight until January 25, the Ministry of Finance announced today.
The pump price of RON97 petrol will go up by the same amount to RM2.28 per litre, while diesel will go up by 12 sen to RM2.17 per litre.
The ministry said the hike under the Automatic Pricing Mechanism (APM) was the result of an increase in global refined petroleum products prices.
RON95 increased from US$60 per barrel to US$63, while diesel rose from US$68 per barrel to US$72, it said.
The APM was implemented on January 5, with RON97 retailing for RM2.23 a litre, RON95 (RM1.93) and diesel (RM2.04).
Despite the weekly fuel float system, the government will cap retail prices at RM2.20 per litre for RON95 petrol and RM2.18 per litre for diesel through subsidies.
