After two consecutive weeks of price drops for RON97 petrol, the premium fuel is back on the rebound for the coming week, albeit an increase by a marginal amount.
RON 97 will be priced at RM2.57 per litre from tomorrow, up 1 sen from the RM2.56 per litre rate of last week. RON 95 petrol continues to be pegged at RM2.08 per litre, which is the upper price limit for Malaysian consumers regardless of market situations elsewhere.
Similarly, Euro 2M diesel also remains at RM2.18, and Euro 5 diesel holds position at 10 sen above Euro 2M rates, priced at RM2.28 per litre.
Calculations according to the Finance Ministry’s Automatic Price Mechanism (APM) show that RON 95 and diesel fuels would be priced at RM2.27 per litre and RM2.28 per litre respectively if there were no price ceiling in effect. For the period of November 9 until November 15, 2019, the government will absorb a total of RM79.39 million for the fuels subsidised.
These prices will remain in effect until the next set of price adjustments are announced on November 15. Today’s announcement is the 44th edition of the weekly fuel pricing format, which is announced every Friday for taking effect on Saturday until the following Friday. This pricing and subsidy system will come to an end when the government begins its targeted petrol subsidy programme (PSP) for the RON 95 fuel early next year.
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