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Kuala Lumpur: The retail price of RON97 will go up by two sen per litre, while the retail prices for RON95 and diesel will remain at RM2.05 and RM2.15 per litre respectively from May 6 to 12.

In a statement Wednesday, the Finance Ministry said the new price of RON97 will be RM2.60 per litre.

The prices are based on the weekly retail pricing of petroleum products using the Automatic Pricing Mechanism (APK) formula.

“To protect the consumers from the effects of the global oil price increase, the Government will maintain the ceiling price of RM2.05 per litre for RON95 and RM2.15 per litre for diesel even though the market prices for RON95 and diesel have increased beyond the current ceiling prices,” the statement 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.