KUALA LUMPUR (Feb 8): The retail prices for both RON95, RON97 in Malaysia will be raised by 4 sen a litre for the week of Feb 9 to Feb 15, as the prices of refined petroleum products in the global markets have risen compared to a week ago, the Ministry of Finance said today.

Hence, RON95 will retail at RM1.97 per litre, compared with RM1.93 previously, while RON97 will retail at RM2.27 per litre, versus RM2.23 previously. But the retail price of diesel will remain at RM2.18 a litre.

In a statement, the ministry said the prices of refined petroleum products in the global markets have risen to US$62 per barrel from US$60 previously for RON95, and from US$72 to US$73 per barrel for diesel.

"This increase in global market prices have caused the rise in retail prices for petrol products and diesel. Nevertheless, the retail price of RON95 is still below the price stabilisation level that was promised by the government of RM2.20 a litre," the ministry said.

For diesel, the rise in global prices should have pushed the retail prices here up one sen to RM2.19 a litre, based on the weekly automatic pricing mechanism, but it was kept at RM2.18 because the federal government has promised to stabilise the price of diesel at RM2.18 a litre, the ministry added.