The government will only act to mitigate rising fuel prices only if RON95 and diesel prices exceed RM2.50 per litre for more than three months in a row.

"The government will determine the appropriate steps to lessen the impact of this rise if the retail price of RON95 and diesel exceed RM2.50 for three continuous months.

"The steps taken will ensure that the people are not burdened by the rising fuel prices," the Finance Ministry said in a statement today.

Last Thursday, fuel prices reached a record high since the new weekly managed-float system was introduced in March.

RON95 went up by seven sen to RM2.38 per litre, while RON97 rose six sen to RM2.66 per litre...