From midnight tonight, RON97 petrol will cost RM2.80 per litre, down one sen from RM2.81 per litre.

Meanwhile, the prices for RON95 and diesel remain unchanged from last week at RM2.08 and RM2.18 per litre respectively, according to a statement by the Finance Ministry today

“According to calculations under the Automatic Pricing Mechanism (APM), the retail prices for RON95 and diesel from May 4 to 10 should be at RM2.50 and RM2.47 per litre, respectively.

“However, the prices of RON95 and diesel for the above period are maintained at RM2.08 per litre and RM2.18 per litre following the government's decision to restrict the rising prices of petroleum products to reduce the financial burden of the people,” the statement read.

The prices will come into effect from May 4 and will remain until May 10.

Putrajaya had reinstated the weekly petrol and diesel price-floating mechanism on Jan 1, using the (APM) formula.

On Feb 27, the Finance Ministry announced that the cabinet had decided to lower the ceiling price for RON95 to RM2.08 per litre from RM2.20. Diesel is capped at RM2.18 per litre.