Will RON95 and diesel prices remain capped despite global oil cost increases?

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RON95 and Diesel Prices to Remain Capped Despite Global Oil Cost Increases

The retail prices for RON95 and diesel will be maintained at their current capped levels from February 22 to February 28, despite an increase in global oil prices. The government has decided to keep the ceiling price for RON95 at RM2.05 per litre and for diesel at RM2.15 per litre to shield consumers from rising international oil costs. These prices are determined weekly under the Automatic Pricing Mechanism (APM) formula.
Government Maintains Ceiling Prices for RON95 and Diesel

The Ministry of Finance has announced that the retail prices for RON95 petrol and diesel will not change for the period of February 22 to February 28. This decision means that RON95 will continue to be sold at RM2.05 per litre and diesel at RM2.15 per litre. This measure is in place to protect consumers from the volatility of global oil prices.
Market Prices Exceed Current Ceiling

The current ceiling prices for both RON95 and diesel have been set below their prevailing market prices. This indicates that the actual cost to procure these fuels on the international market has risen beyond the rates at which they are being sold to the public. The government's intervention ensures that consumers do not bear the brunt of these higher market rates.
RON97 Price Unchanged

Alongside RON95 and diesel, the retail price for RON97 petrol will also remain unchanged during the same period. RON97 will continue to be priced at RM3.47 per litre. This consistent pricing across different fuel types for the specified week reflects the government's approach to managing fuel costs for the public.
Automatic Pricing Mechanism Governs Fuel Prices

The determination of these retail fuel prices is guided by the Automatic Pricing Mechanism (APM) formula. This mechanism calculates the weekly retail prices of petroleum products. By adhering to this formula and implementing price caps, the government aims to provide a degree of stability in fuel costs for the Malaysian populace, even as global crude oil prices fluctuate.

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Will RON95 and diesel prices remain capped despite global oil cost increases?

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