THE retail price of RON97 will drop by 10 sen from RM4.65 to RM4.55 per litre, while RON95 and diesel prices will remain unchanged from July 28 to August 3. 

The Finance Ministry in a statement today said the price of RON95 petrol and diesel will remain at RM2.05 per litre and RM2.15 per litre, respectively, although the actual market price of the two products had risen beyond the current ceiling price, as the government wants to protect consumers from the global oil price hike.

The ministry added the prices were set based on weekly retail prices of petroleum products in accordance with the Automatic Pricing Mechanism formula. 

“The government will continue to monitor the trends of global crude oil prices and take appropriate measures to ensure the continued welfare and well-being of the people,” it said. – Bernama, July 27, 2022.