The retail prices of RON97 and RON95 petrol as well as diesel will remain unchanged at RM3.47, RM2.05 and RM2.15 per litre respectively from Oct 26 to Nov 1, according to a statement by the Finance Ministry on Wednesday (Oct 25).
The Ministry stated that these prices are determined based on the weekly retail prices of petroleum products using the Automatic Pricing Mechanism (APM) formula.
To protect consumers from the increase in global oil prices, the government will maintain the ceiling price of RON95 petrol at RM2.05 per litre and diesel at RM2.15 per litre, even though the market price for both products has exceeded the current ceiling price, the statement added.
The government also assured that it will continue to monitor the impact of global crude oil prices and implement necessary measures to ensure the welfare and well-being of the people.
The statement did not provide any further details.
