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Kuala Lumpur: The retail prices of RON95 and RON97 petrol will each increase by five sen per litre while that for diesel remains unchanged at RM2.15 per litre for the period Feb 27 to March 3.

The new price for RON95 is RM2.05 per litre while that for RON97 is RM2.35 per litre, according to a statement from the Finance Ministry Friday.

It said the new prices were based on the weekly retail pricing of petroleum products using the Automatic Pricing Mechanism (APM) formula.

“To protect the consumers from global oil price increases, the Government will maintain the ceiling price of RON95 at RM2.05 per litre and diesel at RM2.15 per litre, even though the market price APM for RON95 and diesel has increased to more than 10 sen above the current ceiling price,” the Ministry said.

The Government will continue to monitor the trends of global crude oil prices and take appropriate measures to ensure the continued welfare and wellbeing of the people, it added.