The Ministry of Finance (MoF), in a statement today, said the prices were set based on the weekly retail prices of petroleum products using the Automatic Pricing Mechanism (APM) formula.
"To protect consumers from the impact of the actual rise in global oil prices, the government is maintaining the retail price of RON95 petrol at the ceiling price of RM2.05 per litre and that of diesel at RM2.15 per litre, although the market prices of both products have exceeded the set ceiling price," it said.
According to MoF, the government will continue to monitor the trend of world crude oil prices and take the appropriate measures to ensure that the people's welfare and well-being are protected.
-- BERNAMA
