KUALA LUMPUR (April 25): The retail price of RON97 will rise by 1 sen to RM2.81 per litre from April 27 to May 3, announced the Ministry of Finance today.
Meanwhile, prices of RON95 and diesel are maintained at RM2.08 per litre and RM2.18 per litre.
Based on the automatic pricing mechanism (APM) formula, the retail prices of RON95 should rise by 1 sen to RM2.51 per litre while diesel prices should rise by 2 sen to RM2.48 per litre during the period.
"However, the retail prices of RON95 and diesel products for the period stated above will be maintained at RM2.08 per litre and RM2.18 per litre in line with the Government's decision to stabilise retail prices of petroleum products and reduce the people's cost of living," said the ministry in a statement.
The government is expected to pay RM133.62 million in petrol subsidies for the period -- RM103.77 million to subsidise RON95 and RM29.85 million to subsidise diesel prices. — theedgemarkets.com