The price of RON97 petrol is up 10 sen to RM2.67 per litre for the week beginning July 20 to 26, according to a Finance Ministry statement today.

It said the prices of RON95 and diesel remained at RM2.08 and RM2.18 per litre, respectively.

The petroleum retail prices are set using the Automatic Pricing Mechanism, where RON95 petrol and diesel for that week should be sold at RM2.37 per litre, respectively, it said.

“But the retail prices for the two products are retained at RM2.08 and RM2.18 per litre in line with the government decision to stabilise petroleum retail prices and reduce the cost of living,” it said.

The ministry said it is estimated that the government has to fork out RM179.97 million to subsidise the prices of RON95 and diesel during that period.

- Bernama