PUTRAJAYA: The pump price of RON97 petrol will increase by eight sen at midnight on Friday, rising from RM2.68 per litre to RM2.76 per litre.
In a statement, the Finance Ministry said that the new price will be in effect until May 31.
However, the prices of RON95 (RM2.08 per litre) and diesel (RM2.18 per litre) remain unchanged.
The ministry said that were it not for subsidies borne by the government, the actual price for RON95 would be RM2.46 per litre, and for diesel, RM2.52 per litre.
It added that the estimated petrol and diesel subsidy borne by the government between May 25 and May 31 totals RM126.52 million.
The prices of fuel are calculated based on the Automatic Pricing Mechanism (APM), which was reintroduced on Jan 5.
Under this system, weekly fuel prices are announced every Friday and remain in force for one 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.