KUALA LUMPUR (Sept 20): The retail price of RON97 petrol is up 14 sen to RM2.67 per litre, while the prices of RON95 petrol and diesel remain unchanged at RM2.08 and RM2.18 per litre respectively for the week from Sept 21 to 27, the Finance Ministry announced in a statement today.
It said based on the Automatic Pricing Mechanism (APM) calculation, the retail prices for RON95 and diesel for the period should actually be RM2.37 and RM2.32 per litre, respectively.
“This shows an increase from last week’s RON95 price of RM2.23 per litre and diesel price of RM2.29 per litre,” it said.
The global oil prices shot up after the attacks on two oil facilities in Saudi Arabia on Sept 14, which affected the country’s oil production and exports.
“In line with Prime Minister Tun Dr Mahathir Mohamad’s statement, the Government will continue to provide subsidy to balance the oil price hike, following the incident,” the statement added.
With the unchanged retail prices of RON95 petrol and diesel, the estimated petroleum subsidy that the Government will have to bear for the week is RM123.16 million, it added.