In a statement today, the Finance Ministry said the prices were fixed based on the weekly retail pricing of petroleum products using the Automatic Pricing Mechanism (APM).
"To protect consumers from the increase in global oil price, the government will maintain the ceiling price of RON95 at RM2.05 per litre and diesel at RM2.15 per litre, even though the market price for both products has increased beyond the current ceiling price," it said.
The statement said the government will continue to monitor the trends of global crude oil prices and take appropriate measures to ensure the continued welfare and well-being of the people.
-- BERNAMA
