PUTRAJAYA: The pump price for RON97 petrol will go up by 12 sen to RM2.80 per litre starting tomorrow.
The Finance Ministry said in a statement the new RON97 petrol prices would take effect from 12.01am Saturday till April 26.
However, there will be no change in the retail prices for RON95 at RM2.08 per litre and diesel at RM2.18 per litre.
It added that the actual price for RON95 was supposed to increase by 12 sen from RM2.36 per litre to RM2.50 per litre.
For diesel, it should have risen by seven sen from RM2.39 per litre to RM2.46 per litre.
“This is based on the Global crude benchmark price, Brent, which rose to US$70.98 per barrel for the period between April 11 and 17,” it said.
The prices of fuel are calculated based on the Automatic Pricing Mechanism (APM).
The weekly fuel pricing mechanism was reintroduced on Jan 5 under the APM. Under this system, weekly fuel prices are announced every Friday and remains in force for a week.
The government has decided to take measures to stabilise the retail prices of RON95 and diesel by capping them at RM2.08 per litre and RM2.18 per litre, respectively.