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Kuala Lumpur: The retail price of RON97 petrol dropped 20 sen from RM3.75 to RM3.55 per litre, while the prices of RON95 and diesel will remain unchanged for the week beginning today (Thursday) until Dec 21.

The Ministry of Finance, in a statement Wednesday, said the ceiling price of RON95 and diesel would remain at RM2.05 and RM2.15 per litre, respectively, although the market prices of the two products have increased beyond the current ceiling prices.

It added that the retail price of RON97 has been reduced in line with the movement in the current market price.

The prices were set based on the weekly retail prices of petroleum products using the Automatic Pricing Mechanism (APM) formula.

“The Government will continue to monitor the trends of global crude oil prices and take appropriate measures to ensure the welfare and well-being of the people continue to be protected,” the statement said.