From midnight tonight, RON97 petrol will cost RM2.63 per litre, up two sen from RM2.61 per litre.

Meanwhile, the price of RON95 and diesel remain unchanged at RM2.08 and RM2.18 per litre, respectively.

According to a statement by the Finance Ministry today, the prices come into effect from March 30 and will remain until April 5.

Putrajaya had reinstated the weekly petrol and diesel price-floating mechanism on Jan 1, using the Automatic Pricing Mechanism (APM) formula.

On Feb 27, the Finance Ministry announced that the cabinet had decided to lower the ceiling price for RON95 to RM2.08 per litre.

“According to calculations under the APM, the retail prices for RON95 and diesel from March 30 to April 5 should be at RM2.33 and RM2.36 per litre, respectively.

“However, the prices of RON95 and diesel for the above period is maintained at RM2.08 per litre and RM2.18 per litre following the government's decision to restrict the rising prices of petroleum products to reduce the financial burden of the people,” the statement today read.