Petrol prices will go down for the first time in six weeks effective midnight, declining eight sen per litre for RON95 and RON97.
The new weekly price for RON95 and RON97 will be RM2.30 and RM2.58 per litre respectively, according to an announcement by the Domestic Trade, Co-operatives and Consumerism Ministry.
Meanwhile, the new weekly price of diesel will go down by two sen to RM2.23 per litre, also the first decline in six weeks.
The declines are expected to give some respite to motorists after fuel prices hit new highs last week since the implementation of the weekly managed float system.
The system was implemented on March 30.
The weekly fuel prices are determined by global oil prices based on the Mean of Platts Singapore (MOPS) and the ringgit's strength against the US dollar.
However, Treasury secretary-general Irwan Serigar Abdullah had said the government still provided some subsidies to avoid a huge swing in prices.
- Mkini
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