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KUALA LUMPUR (Aug 9): The price of RON97 petrol will drop five sen to RM2.49 a litre for the upcoming week beginning midnight (Saturday Aug 10), while the prices of RON95 petrol and diesel will remain unchanged at RM2.08 and RM2.18 respectively.
Announcing this in a statement, the finance ministry reiterated that the weekly retail prices of the three petroleum products are set using the automatic pricing mechanism (APM).
It said based on the calculation under the APM, the actual retail price for RON95 petrol and diesel for the period would have been RM2.19 and RM2.28 per litre respectively.
However, prices have been retained at RM2.08 and RM2.18, in line with the government's decision to stabilise the retail petroleum prices and ensure the people's economic wellbeing, the ministry said.
The estimated subsidy that the government has to bear during the period is RM59.28 million, the ministry added.
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