KUALA LUMPUR, Dec 6 ― The pump price of RON97 petrol will go down two sen from RM2.66 to RM2.64 for a week beginning midnight tonight, said the Ministry of Finance.
A statement released by the ministry today added that pump prices RON95 fuel and diesel would be maintained at RM 2.08 and RM2.18 per litre respectively over the same period ending on Dec 13.
The prices were determined by using the Automatic Pricing Mechanism (APM) formula.
The statement explained that based on the APM formula, RON95 and diesel would actually be priced at RM2.34 and RM2.30 per litre, a drop from last week’s global price of RM2.36 and RM2.29 per litre respectively.
“By maintaining the pump price for these two products, the estimated subsidy borne by the government for the period between Dec 7 and 13 is a total of RM107.4 million,” read the statement.