Fuel prices go up across the board

Petrol prices across the board will go up for the third week of May compared to the previous week, ending a three-week period of declining prices.

The price of RON95 and RON97 will go up by 7 sen to RM2.08 per litre and RM2.36 per litre.

The price of diesel will go up by four sen from RM1.95 to RM1.99 per litre.

The new prices will be from Thursday to May 24. They were announced on RTM1 and posted on the Domestic Trade, Cooperatives and Consumerism Ministry’s Twitter account on Wednesday evening.

The weekly fuel pricing mechanism came into effect from April this year.

The prices of petrol and diesel had been placed on a managed monthly float system since Dec 1, 2014, following the removal of fuel subsidies.

With the new weekly mechanism, fuel prices will be announced every Wednesday and take effect at midnight.