PETALING JAYA: The petrol price for the week of Jan 12 to Jan 18 based on the Automatic Pricing Mechanism (APM) sees the price of Ron 97 and Ron 95 drop by one sen per litre and diesel to increase by one sen per litre as announced Minister of Finance Lim Guan Eng today.
The new price for the week beginning Jan 12 to 18 is as follows:
* Ron 97 drops from RM2.23 per litre to RM2.22 per litre.
* Ron 95 drops from RM1.93 per litre to RM1.92 per litre.
* Diesel increases from RM2.04 per litre to RM2.05 per litre.
In a statement, Lim said the new prices will take effect from midnight.
He added that in the coming weeks, the retail prices for fuel, based on a weekly float under the Automatic Pricing Mechanism (APM) formula, will be announced every Friday and will take effect on Saturday.
The finance minister reiterated the government’s commitment to stabilising the retail prices of petroleum products while maintaining prices that will benefit the people.
This will be maintained until the targeted subsidies for RON95 is carried out in mid-year and before the prices for petroleum products are floated according to market price.