KUALA LUMPUR: The retail prices of RON95 and RON97 petrol will remain at RM1.98/litre and RM2.28/litre from midnight tonight till Feb 1, 2019.
However, the retail price of diesel will go up by one sen to RM2.18/litre, the Finance Ministry said in a statement here yesterday.
“The prices of refined petroleum products in the world market now stand at USD73 a barrel for diesel as compared to RON95 at USD62/barrel.
“The difference in cost is because of higher demand for diesel products especially from China while there has also been an increase in production of petrol products in the global market,” the statement said.
The statement added that the government will stabilise retail prices of RON 95 and diesel by capping the ceiling at RM2.20/litre and RM2.18/litre respectively if world prices surge above these levels.
Retail prices of the two fuels are set weekly based the managed float system and automatic pricing mechanism. –Bernama
