Fuel prices across the board are down for a third consecutive week as global crude oil prices continue on a downward trend.

According to the Domestic Trade, Co-operatives and Consumerism Ministry (KPDNKK), RON95 and RON97 will be down 7 sen per litre respectively, bringing the new retail prices to RM1.98 and RM2.24 respectively.

Diesel is now down 6 sen, to RM1.88 per litre.

This represents the lowest price for RON95, RON97 and diesel since the implementation of the weekly pricing system which came into effect on March 30.

The announcement carried by the KPDNKK's Facebook page included the hashtag "CaringMinistry".

The retail price of fuel is determined based on the Mean of Platts Singapore (Mops) and currency strength average of the previous week.

Yesterday, the World Bank reported that fuel prices were among the key factors that led to Malaysia registering the highest inflation rate since November 2008 in the first quarter of 2017.