THE retail price of RON97 will drop by 5 sen to RM4.50 per litre, while RON95 petrol and diesel prices will remain unchanged at RM2.05 and RM2.15 per litre respective.

The Finance Ministry said in a statement that these prices will take effect tomorrow and remain till August 10.

“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 in the statement.

The ministry said the new price is based on the weekly retail prices of petroleum products in accordance with the Automatic Pricing Mechanism formula. – August 3, 2022.