Petrol prices will go up six sen at midnight tonight, while the price of diesel will go up by 12 sen.

The Finance Ministry confirmed that RON95 petrol will cost RM1.98 per litre, while RON97 petrol will cost RM2.28 per litre. Diesel will cost RM2.17 per litre.

Putrajaya had reinstated the weekly petrol and diesel price floating mechanism two weeks ago.

Crude oil prices had risen this week, with the latest hike attributed to reports that the US may ease trade tariffs on China.

The Brent crude oil price is currently hovering around US$61 per barrel.

Putrajaya will cap RON95 price at RM2.20 per litre should crude oil prices increase.

The cap will only be applicable until the new targeted subsidy scheme is imposed later this year.