PUTRAJAYA: Motorists will pay 3 sen less for RON97 petrol in the coming week.
Starting tomorrow, the price of RON97 is reduced from RM2.59 to RM2.56 per litre.
The Finance Ministry said the new price would take effect until Nov 8.
Since the government has capped the price of RON95 at RM2.08 per litre and of diesel at RM2.18 per litre, the ministry said the pump prices of both fuels would remain unchanged.
It said the retail price of RON95 was supposed to be RM2.26 per litre, down 3 sen from the current RM2.29 per litre.
The ministry added that the price of diesel without subsidy was supposed to be RM2.33 per litre, 4 sen more than the existing RM2.29 per litre.
The prices 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 remain in force for a week.
The ministry said the subsidy to be forked out by the government from tomorrow to Nov 8, was estimated to total RM86.25 million — RM64.63 million for RON95 and RM21.62 million for diesel.