Fuel prices up across the board

KUCHING: Fuel prices will go up across the board from Feb 13 to 19 with RON95 and RON97 hiking 3 sen, while diesel will go up by 4 sen.

The price per litre for RON95 will be RM1.96 per litre, whereas RON97 will be priced at RM2.26 per litre.

Diesel will be priced at RM2.15 per litre after midnight tonight.

The Finance Ministry said in a statement, “The government will continue to monitor the trends of global crude oil prices and take appropriate measures to ensure the continued welfare and well-being of the people.”

The weekly fuel pricing mechanism was reintroduced on Jan 5,2019, under the Automatic Pricing Mechanism (APM).

Finance Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz had also recently said that the price for RON95 petrol and diesel has been capped at RM2.05 per litre and RM2.15 per litre respectively, following the rise of global crude oil prices.

Tengku Zafrul said the newly announced price cap for RON95 and diesel is lower compared to the price cap implemented by the previous Pakatan Harapan government in 2019, which is RM2.08 per litre for RON95 and RM2.18 per litre for diesel.

“The government will cover the difference between the actual market price and the weekly retail price that is set weekly through the subsidy allocation,” he said.