PUTRAJAYA: Effective midnight, the retail prices of RON95 and diesel will be fixed at RM1.95 a litre while RON97 will be priced at RM2.25.
The Domestic Trade, Cooperatives and Consumerism Minister Datuk Seri Hasan Malek said the new prices, takes into account the rise in global oil prices.
The new prices will be enforced throughout March. It reflects a 25 sen increase in RON95, RON97 and diesel prices.
"The government will follow the developments of the products' market price and the currency rates to determine the retail price of petrol and diesel in the following months," he said in a statement.
Hasan said all oil companies and petrol station operators were reminded to abide by the new prices.
"We will take stern action against those who violated the new prices set by the government," he said.