It’s Friday, which means another round of the weekly fuel update. Another price adjustment upwards in store for RON 97 petrol for the coming week, but the increase is minor.

From tomorrow, October 19, RON 97 will be priced at RM2.68 a litre, which is a sen up from the RM2.67 last week. As always, no change in the price of RON 95 petrol, with the fuel conitnuing to be sold at RM2.08 per litre, the maximum price that consumers will pay no matter how high market prices push pump prices.

Meanwhile, Euro 2M diesel will continue to retail at RM2.18 per litre, while Euro 5 diesel – which is 10 sen more than Euro 2M diesel – is priced at RM2.28 per litre.

Based on the finance ministry’s Automatic Price Mechanism (APM) calculations, RON 95 would be priced at RM2.38 per litre and diesel at RM2.31 per litre without the price cap in place. The government said it will absorb an estimated RM123.81 million in fuel subsidy costs from October 19 to 25.

These prices will remain in effect until October 25, when the next set of fuel pricing adjustments will be announced. This is the 41st edition of the current weekly fuel pricing format, which is announced every Friday. The weekly prices are in effect from Saturday until the following Friday. The system will end when the government begins its targeted petrol subsidy programme (PSP) for RON 95 petrol early next year.

-paultan