Malaysiakini News

Petrol, diesel prices up 15 sen at midnight, priciest in 2016

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Petrol and diesel pump prices will go up by 15 sen at midnight, hitting its highest point yet this year.

RON95 will be priced at RM1.95 per litre, RON97 RM2.30 per litre and diesel at RM2 a litre, automotive news website said.

This is higher than January prices of RM1.85 (RON95), RM2.25 (RON97) and RM1.60 (diesel).

Pump prices were at its lowest point this year in March.

Compared to then, diesel prices show the steepest hike of 48 percent.

RON95 is up 22 percent since March while RON97 is up 18 percent.

The government determines the prices of fuel through a managed float system.

It takes into account several factors, including the global price of crude oil and the country's currency strength in the previous month.