KUALA LUMPUR: The retail prices of RON95 petrol and diesel will remain unchanged at RM2.05 and RM2.15 per litre respectively until Nov 3, says the Finance Ministry.

       The Ministry said however that the retail price of RON97 petrol will increase by 10 sen to RM2.97 per litre from Thursday (Oct 28) until Nov 3.

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

       "To protect consumers from the effects of actual increase in oil prices on the global market, the government has maintained the retail price of RON95 at the ceiling price of RM2.05 per litre and diesel at RM2.15 per litre, although the actual market prices for both products have exceeded the set ceiling prices,” it said in a statement on Wednesday (Oct 27).

       The Ministry also said the government would 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.