Fuel prices Aug 24-30: Unchanged across the board

KUALA LUMPUR: The retail prices of RON97 and RON95 petrol as well as diesel will remain unchanged for the period of August 24 to 30, according to a statement by the Finance Ministry on Wednesday (August 23).

According to the ministry, the prices are based on the weekly retail pricing of petroleum products using the Automatic Pricing Mechanism (APM) formula. RON97 will remain at RM3.37 per litre, RON95 at RM2.05 per litre, and diesel at RM2.15 per litre.

The government has decided to maintain the ceiling price of RON95 at RM2.05 per litre and diesel at RM2.15 per litre in order to protect consumers from the increase in global oil prices. Despite the fact that the market price for both products has exceeded the current ceiling price, the government is committed to preserving the welfare of the people.

The ministry has assured that it will keep a close eye on the global crude oil price trend and take necessary measures to ensure the well-being of the people.

The statement was released by the ministry in light of concerns regarding the increase in global oil prices and its potential impact on domestic fuel prices. The decision to keep the prices unchanged is seen as a precautionary measure to shield consumers from any potential price hikes.

This move is aimed at maintaining stability in the retail prices of petrol and diesel, providing relief to consumers who are already faced with rising cost of living.

The ministry’s proactive stance in addressing the issue is in line with the government’s commitment to prioritize the welfare and well-being of its people. By closely monitoring the global oil market and taking necessary measures, the government aims to minimize any negative impact on the public.

The Finance Ministry believes that by maintaining the current ceiling price for RON95 and diesel, it can effectively manage the potential increase in fuel prices. This is part of the government’s efforts to mitigate any burden on the people and ensure their continued welfare.

The ministry’s statement, released through Bernama, serves as a reassurance to the public that the government is taking proactive steps to address the issue of rising fuel prices and protect the interests of consumers.