KUALA LUMPUR: The Finance Ministry has announced the new retail prices for petroleum-based products.
This, as the government adopts the weekly price mechanism for fuel according to the automatic pricing mechanism (APM).
In line with the global trend of falling oil prices, new pump prices record a significant drop for the period of Jan 5 to Jan 11.
RON95, previously sold at RM2.20 per litre will now be sold at RM1.93, recording a drop of 27 sen.
Also decreasing by 27 sen is the price for RON97 which will now be sold at RM2.23 from RM2.50 previously.
Diesel meanwhile goes down by 14 sen to RM2.04 from RM2.18 previously.
These new prices will come into effect at midnight tonight (Jan 5).
“The announcement of retail prices will be made every Friday and comes into effect from Saturday to (the next) Friday,” Lim said in a statement.
“It must be stressed that these new prices take into account commissions or petrol station operators’ margins, as approved by the Cabinet on Jan 2, 2019," he added.