KUALA LUMPUR: The retail price of RON97 petrol will increase by 37 sen per litre from RM3.94 to RM4.31, while the prices of RON95 petrol and diesel will remain unchanged for the week from May 12 to 18.

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

       The ministry added that 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 APM price for RON95 and diesel has increased beyond the current ceiling price.

       "The government will continue to monitor the trends of global crude oil prices and take appropriate measures to ensure the continued welfare and well-being of the people,” it said. - Bernama