KUALA LUMPUR, Jan 3 — The retail price of petrol for the first week of 2020 has been set by the Finance Ministry, with RON97 petrol increasing slightly while RON95 petrol and diesel prices have been maintained.

From tomorrow until next Friday (January 10) RON97 will cost RM2.65 per litre, up from this week’s RM2.63 per litre. RON95 petrol and diesel will remain at RM2.08 and RM2.18 per litre, respectively.

"Based on the Automatic Pricing Mechanism system, the retail price for RON95 petrol and diesel during the same period should be RM2.35 and RM2.43 respectively,” said the ministry in a statement.

It added that this shows an increase from last week’s prices, which stood at RM2.33 per litre for RON95 petrol and RM2.39 per litre for diesel.

"However, the retail price for both products will be maintained at RM2.08 and RM2.18 for RON95 petrol and diesel respectively, in line with the government’s decision to suspend the Petrol Subsidy Programme.

"In maintaining these price levels, the government will bear RM128.24 million in subsidy costs for the period of January 4 to January 10,” the statement read.