The Finance Ministry in a statement on Wednesday said the prices were fixed based on the weekly retail pricing of petroleum products using the Automatic Pricing Mechanism formula.
"To protect consumers from global oil price increases, the government will maintain the ceiling price of RON95 at RM2.05 per litre and diesel at RM2.15 per litre, even though the APM market prices for RON95 and diesel have increased beyond the current ceiling prices. "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,” it said.- Bernama
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