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KUALA LUMPUR (May 31): The Ministry of Finance announced today that retail fuel prices will stay unchanged in the upcoming fortnight, from June 1 till June 14, in conjunction with the Hari Raya Aidilfitri celebrations.
In a statement, it said retail fuel prices will be maintained using the automatic pricing mechanism. "After June 14, the determination of retail prices for peroleum products will return to original, where the price determination will be done weekly," it said.
For the upcoming June 1 to June 14 period, the retail price of RON97 will be lowered to RM2.63 a litre, versus RM2.76 a litre now, while RON95 will be kept steady at its ceiling of RM2.08 a litre, as opposed to its actual APM price of RM2.33 a litre.
Diesel will also be kept at RM2.18 a litre, versus its actual APM price of RM2.40 a litre.
The government expects to spend an estimated RM165.27 million to foot the fuel subsidy bill during the June 1 to June 14 period.
