KUALA LUMPUR: The retail price of RON97 will drop by 20 sen to RM4.70 per litre, while unsubsidised RON95 and diesel will go down 15 sen to RM4.27 and RM5.12 per litre for the period of Nov 5 to 11.
The Finance Ministry, in a statement today, announced that this pricing is determined based on the Automatic Pricing Mechanism (APM) formula.
"The regional petroleum market shows signs of moderation following an increase in the supply of refined fuels, including petrol and diesel stocks in Singapore, which serves as one of the market references for petroleum pricing in Malaysia.
"This development, together with the drop in Brent crude oil prices at the end of the APM calculation period, indicates the possibility of lower price pressures," the ministry said in a statement.
