KUALA LUMPUR (Jan 11): The price of RON95 and RON97 petrol has been cut for a second week in a row from midnight today, this time at a lower quantum of one sen, to RM1.92 per litre and RM2.22 per litre respectively, on the back of consistent decrease in crude oil rates.
However, the price of diesel will be increased by one sen to RM2.05 per litre for the week of Jan 12 to 18.
This is the second adjustment following the implementation of the automatic fuel pricing mechanism on Jan 5, which determines fuel prices on a weekly basis.
"To protect consumers from the impact of substantial increase in prices when global crude oil prices rise, the retail prices of petroleum products will be maintained at levels not exceeding RM2.20 per litre for RON95 and RM2.18 per litre for diesel through subsidy," said Finance Minister Lim Guan Eng in a statement today.
"The cap on fuel prices will be abolished when the targeted fuel-subsidy mechanism is implemented in the middle of this year," he added.
The government had cut petrol prices by 27 sen per litre and that of diesel by 14 sen for the Jan 5-11 period.