Regular users of RON 97 fuel will see a notable uptick in fuel bills this week, as the premium petrol grade takes a 13 sen hike to RM2.70 per litre from tomorrow, compared to the RM2.57 per litre rate of last week. RON 95 petrol continues to stay at RM2.08 per litre, which is the price ceiling for this fuel grade for Malaysian consumers, regardless of market forces elsewhere.
As before, Euro 2M diesel maintains position at the same rate of RM2.18 per litre, likewise for Euro 5 diesel at the same 10 sen margin above Euro 2M diesel rates, at RM2.28 per litre.
The Finance Ministry’s Automatic Price Mechanism (APM) calculations show that RON 95 and diesel fuels would be priced at RM2.40 and RM2.25 per litre respectively if there were no price limits in effect. For the period of November 16 until November 22, 2019, the government will absorb a total of RM120.58 million for fuels subsidised.
These prices will remain effective until the next set of fuel price adjustments are announced on November 22. Today’s is the 45th edition of the weekly fuel pricing format which is announced every Friday, for taking effect Saturday until the following Friday. This pricing and subsidy system will conclude when the government begins its targeted petrol subsidy programme (PSP) for RON 95 petrol early next year.