KUALA LUMPUR, Jan 17 — The retail price of RON97 petrol fell 9 sen to RM2.53 a litre while the prices of RON95 and diesel remained at RM2.08 and RM2.18 a litre effective midnight tonight until January 24.

The Finance Ministry in a statement today announced that the retail price of RON95 and diesel for the period should have been RM2.23 and RM2.33 per litre respectively under the Automatic Pricing Mechanism (APM).  

"This shows a decrease from the week before for RON95 retail price which should have been RM2.32 a litre and diesel was supposed to cost RM2.46 a litre.

"Nonetheless, the retail prices of both products stayed at RM2.08 and RM2.18 a litre in line with the decision of the government to postpone the Petrol Subsidy Programme,” the statement said.

The statement also mentioned that by maintaining the retail prices of both products, the estimated subsidy undertaken by the government for January 18 to 24, 2020 amounted to RM74.70 million. — Bernama