PETALING JAYA: The retail prices of RON95 and RON97 petrol as well as diesel remain unchanged from June 24-30, says the Finance Ministry.

       In a statement on Wednesday (June 23), the Finance Ministry said that the price of RON97 petrol remains at RM2.67 and RON95 at RM2.05 per litre, which was determined using the Automatic Pricing Mechanism (APM) formula.

       The price for diesel remains at RM2.15 per litre.

       The government, it said, would continue to monitor the changes in crude oil prices and take necessary measures to ensure the welfare of the rakyat remains protected.

       "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 beyond the current ceiling price," read the statement.

       The weekly fuel pricing mechanism was reintroduced on Jan 5, 2019, using the APM.

       Under this system, fuel prices are announced every Wednesday and remain in force for one week.