KUALA LUMPUR (Nov 29): The Ministry of Finance (MOF) today announced that the retail price of RON97 petrol will remain at RM2.66 per liter, while RON95 and diesel will remain at RM2.08 and RM2.18 per liter respectively, for the period of Nov 30 to Dec 6.
In a statement issued today, MOF announced that petroleum retail prices were set weekly using the Automatic Pricing Mechanism (APM) formula, where the retail price of RON95 and diesel for the same period is supposed to be RM2.36 and RM2.29 per liter, respectively.
The statement said that according to the APM there was no change in the retail price of RON95 petrol, while there was an increase in retail price of diesel at RM2.27 per liter last week.
“However, retail prices for both products are maintained at RM2.08 per liter and RM2.18 per liter in line with the government's decision to stabilise retail petroleum prices and safeguard the people's economic well-being.
"This means the estimated subsidy borne by the government for the period of Nov 30 to Dec 6 amount to RM115.70 million," it said.