The retail prices of RON97 and RON95 petrol will increase by two sen per litre, at RM2.38 and RM2.08 respectively, while diesel will remain at RM2.14 per litre, effective midnight until Feb 28.

The Finance Ministry, in a statement today, said based on the Automatic Pricing Mechanism, the retail prices for both RON95 and diesel should be at RM2.08 and RM2.14 per litre respectively.

“This shows an increase from last week’s RON95 price of RM2.06 per litre while diesel remains at RM2.14 per litre,” it said.

The ministry also said that the retail price of RON95 was increased to RM2.08 per litre and retail prices for diesel remain at RM2.14 per litre, in line with the government’s decision to stabilise retail prices for petroleum products and safeguard the well-being of the people’s economy.

“However, as global oil prices are rising and to protect consumers from the impact of price increases, retail prices of petroleum products will be maintained at no more than RM2.08 per litre for RON95 and RM2.18 per litre for diesel through subsidies,” it said. — Bernama