Petrol prices will go up starting midnight while the price of diesel will go down by 3 sen.

According to the latest fuel prices released by the Domestic Trade, Cooperatives and Consumerism Ministry, the new price of RON95 will be RM2.33 per litre - up two sen from last week, while RON97 will cost 3 sen more at RM2.61 per litre.

Diesel, meanwhile, will cost RM2.31 per litre.

Putrajaya had stopped fuel subsidies since March last year due to budget constraints and implemented a managed float system that is updated weekly.

Fuel prices are determined by global oil prices based on the Mean of Platts Singapore and the ringgit's strength against the US dollar.