KUALA LUMPUR: The Ministry of Finance announced adjustments to fuel prices, with RON95 petrol remaining stable while RON97 and diesel prices see slight increases in Peninsular Malaysia.

According to BERNAMA News Agency, the retail price of RON95 petrol will stay at RM2.05 per litre across Peninsular Malaysia, Sabah, Sarawak, and Labuan. However, starting January 2 through January 8, 2025, the price of RON97 petrol will rise by three cents, moving from RM3.25 to RM3.28 per litre in the peninsula. Diesel prices will also witness a similar increase, moving from RM2.95 to RM2.98 per litre, whereas in Sabah, Sarawak, and Labuan, the diesel price remains unchanged at RM2.15 per litre.

The Ministry of Finance stated that these prices are determined based on the weekly retail prices of petroleum products through the Automatic Pricing Mechanism (APM). This mechanism is used to ensure fair pricing in line with global crude oil market trends.

The ministry emphasized its commitment to monitoring global crude oil price trends closely and stated that it would take necessary actions to protect the welfare and wellbeing of the people. The statement highlights the government's ongoing efforts to manage economic challenges while addressing the needs of its citizens.