PUTRAJAYA: Petrol prices for RON95 and RON97 will go up by one sen while the price for diesel remains unchanged, effective tomorrow to Feb 22.
The Finance Ministry, in its announcement today said the new pump prices for RON95 and RON97 will be at RM1.98 per litre and RM2.28 per litre respectively. Diesel prices remain at RM2.18 per litre.
“The price for petroleum (refined) at the world market has increased compared to the previous week, from US$62 per barrel to US$63 per barrel for RON95 and from US$72 per barrel to US$73 per barrel for diesel.
“The increase in the global price has caused the retail prices for petrol and diesel to also increase.
“However, the retail price for RON95 is still below the the government’s price stabilisation limit at RM2.20 per litre,” the ministry said.
The ministry added that the increase in retail prices for the two-types of petrol were also due to a stronger ringgit against the US dollar.
For diesel, it said that the market price increase should have caused the pump price to go up as well, to RM2.20 a litre, based on Automatic Pricing Mechanism (APM) formula.
However, the ministry said the Pakatan Harapan government, as per its election pledge, has decided to stabilise the retail price for diesel at RM2.18 per litre.
Last week, the fuel prices for RON95 and RON97 were RM2.27 and RM1.97 per litre respectively. The price for diesel was RM2.18 per litre.