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PETALING JAYA: Fuel prices have resisted the downward trend in recent times and will generally increase from May 16 to 22.
The Finance Ministry said RON97 gasoline will be priced at RM1.61 per liter, a six-sen increase from RM1.55.
The price of RON95 and diesel will increase by six sen and five sen respectively.
RON95 gasoline will be priced at RM1.31 per liter, compared to RM1.25 per liter; while diesel will be priced at RM1.45 per liter, above RM1.40 per liter previously.
Fuel prices have dropped dramatically in recent months due to oversupply of crude oil in the market.
The Ministry said that the higher fuel prices were due to the increase in the prices of refined products in line with the increase in world crude oil prices.
“The government will continue to monitor the impact of the global change on the price of crude oil and will take appropriate measures to ensure the well-being and well-being of the people,” the ministry said in a statement on Friday (May 15).
The weekly fuel pricing mechanism was reintroduced on January 5, 2019 under the Automatic Pricing Mechanism (APM).
Under this system, fuel prices are announced every Friday and remain in effect for a week.
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