Petrol prices up by 10 sen

PETALING JAYA - Petrol prices for RON97 and RON95 will go up by 10 sen to RM2.38 and RM2.08 per litre effective midnight.

The price of diesel, meanwhile, will remain at RM2.18 per litre.

According to the finance ministry, the rise in petrol price is due in part to an increase in the average global cost of refined products, from US$63.11 a barrel to US$66.91.

“For diesel, the average cost of refined products was processed according to the significant increase from US$74.38 a barrel to US$79.11,” it said in a statement.

It added that the retail price of diesel should be RM2.33 per litre.

“But in line with the government’s pledge to stabilise the retail price of diesel if the actual market price is higher than the levels set, that is RM2.20 a litre for RON95 and RM2.18 a litre for diesel, the retail price of diesel for Feb 23 to March 1 will be maintained at RM2.18.”