KUALA LUMPUR, Jan 15 (Bernama) -- The retail price of RON95 will remain unchanged at RM2.05 per litre, while the price of RON97 will increase by five sen, from RM3.33 to RM3.38 per litre, from Jan 16 to 22.
The Ministry of Finance (MOF) in a statement today said the retail price of diesel in Sabah, Sarawak, and Labuan will remain at RM2.15 per litre, while in Peninsular Malaysia, it will rise by five sen per litre from RM3.03 to RM3.08 for the same period.
The MOF said the increase in global oil market prices has prompted the government to set the retail price of RON97 at RM3.38 per litre and the retail price of diesel in Peninsular Malaysia at RM3.08 per litre.
“The retail price of diesel in Peninsular Malaysia remains lower than the floating price set on June 10, 2024, which was RM3.35 per litre," read the statement.
The prices are determined using the Automatic Pricing Mechanism (APM) formula based on the weekly retail price of petroleum products.
The MOF assured that the government will continue to monitor global oil price movements and adjust the retail prices of RON97 and diesel accordingly, while maintaining price stability.
“The government will continue to monitor global crude oil price changes and take appropriate actions to ensure the welfare and well-being of the people are safeguarded,” the statement added.
-- BERNAMA
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