RON97 price falls nine sen a litre, RON95 and diesel unchanged for Oct 26-Nov 1

KUALA LUMPUR (Oct 25): The retail price of RON97 petrol will decrease by nine sen per litre to RM2.59 while the prices of RON95 and diesel will remain unchanged at RM2.08 and RM2.18 a litre respectively, effective midnight tonight until Nov 1.

In a statement issued today, the Finance Ministry said based on calculations according to the Automatic Pricing Mechanism (APM), the retail prices of RON95 petrol and diesel for the same period should have been RM2.29 per litre.

"This shows a decrease from last week of the retail price of RON95 petrol which is RM2.38 per litre, and a decrease in the price of diesel which is RM2.31 per litre," it said.

Nevertheless, it said the retail prices for both products will remain at RM2.08 per litre and RM2.18 per litre, which is in line with the government's decision to stabilise retail prices for petroleum products for the benefit of the people.

With these prices, the ministry said the estimated subsidy that has to be borne by the government for the period Oct 26 to Nov 1 is RM87.28 million.

Click here for more property stories.