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Another Friday, another fuel price update, and here comes one more drop in RON 97 price to make your day if you do refuel from the premium pump.
RON 97 will be priced at RM2.56 per litre from tomorrow, which represents a 3 sen decrease from the RM2.59 per litre rate of last week. As before, RON 95 petrol will continue to be pegged at RM2.08 per litre, which is the price ceiling for Malaysian consumers regardless of market forces for the fuel elsewhere.
Euro 2M diesel also continues to stay at RM2.18 per litre, while Euro 5 diesel maintains its 10 sen margin at RM2.28 per litre, above Euro 2M diesel rates.
The Finance Ministry’s Automatic Price Mechanism (APM) calculations indicate that RON 95 and diesel fuels would be priced at RM2.26 per litre and RM2.33 per litre respectively without the fuel price ceiling in place. The governement will absorb a total of RM86.25 million in fuel subsidy costs for the period of November 2 until November 8, 2019.
These prices will remain in effect until the next set of price adjustments are announced on November 8. This is the 43rd edition of the weekly fuel pricing format, which is announced every Friday and takes effect from Saturday until the following Friday. This system will conclude when the government begins its targeted petrol subsidy programme (PSP) for RON 95 fuel early next year.