PUTRAJAYA: The pump price of RON97 petrol will be 3 sen more expensive in the coming week, starting tomorrow from RM2.50 per litre to RM2.53 per litre.
The Finance Ministry said, in a statement, that the new price would take effect from 12.01am on Saturday to Sept 20.
However, there will be no change in the retail prices of RON95 at RM2.08 per litre and diesel at RM2.18 per litre.
It said that RON95 was supposed to go up by 3 sen, from RM2.20 per litre to RM2.23 per litre, while for diesel, also 3 sen from RM2.26 per litre to RM2.29 per litre.
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 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.
The estimated subsidy to be forked out by the government from Saturday (Sept 14) to Sept 20, was RM68.71 million, the ministry said.