KUALA LUMPUR: The retail prices of RON97 petrol and diesel in Peninsular Malaysia have been reduced by eight sen, now set at RM3.10 and RM2.80 per litre, respectively, for May 8-14.
Ministry of Finance (MOF) in a statement today said, the retail price of RON95 petrol remains unchanged at RM2.05 per litre, while diesel prices in Sabah, Sarawak and Labuan also remain at RM2.15 per litre.
The ministry explained that the prices were based on the weekly retail pricing of petroleum products, calculated using the Automatic Pricing Mechanism (APM) formula.
“The government continues to monitor market developments and adjust the RON97 and diesel fuel’s retail prices based on global oil market fluctuations, whilst supporting price stability,” the statement read.
It added that the government would also take appropriate measures to safeguard the welfare and well-being of the people.
