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Kuala Lumpur: The retail price of RON97 petrol will be lower by 17 sen per litre, dropping from RM4 to RM3.83, while the prices of RON95 petrol and diesel will remain unchanged for the week up to March 30, the Finance Ministry said in a statement Wednesday.

RON95 petrol costs RM2.05 per litre and diesel, RM2.15, even though the real market price has risen above the ceiling price level, it said.

The Ministry said the new price is based on the weekly retail price of petroleum products in accordance with the Automatic Pricing Mechanism (APM) formula.