PUTRAJAYA: The retail price of RON97 petrol will be three sen cheaper in the coming week (from Jan 11 - 17).
The Finance Ministry said from midnight tonight, the price for RON97 is reduced from RM2.65 to RM2.62 per litre.
The pump prices of RON95 petrol and diesel remain unchanged, it said in a statement.
In the absence of subsidy, the ministry said the price of RON95 calculated under the Automatic Pricing Mechanism (APM) should be at RM2.32 per litre and diesel at RM2.46 per litre.
The ministry said the government had decided to cap the retail prices for RON95 at RM2.08 and diesel at RM2.18 in a move to stabilise the retail prices of petroleum products and reduce the cost of living.
Under this system, weekly fuel prices are announced every Friday and remain in force for a week.
The ministry said the subsidy to be forked out by the government from tomorrow to Jan 17 was estimated to be RM122.85 million (RM83.16 million for RON95 and RM39.69 million for diesel).
