KUALA LUMPUR, Dec 15 — The retail price of RON97 petrol will increase one sen from RM2.99 to RM3 per litre for the period of December 16 to 22, the Finance Ministry (MoF) said today.

In a statement, it said the retail prices of RON95 petrol and diesel will remain unchanged at RM2.05 and RM2.15 per litre respectively for the same period.

The prices were fixed based on the weekly retail prices of petroleum products using the automatic pricing mechanism (APM).

"To protect consumers from the impact of actual increase in oil prices on the global market, the government has maintained RON95 petrol at the ceiling price of RM2.05 per litre and diesel at RM2.15 per litre although the actual market prices of both products have exceeded the ceiling prices set,” it added.

MoF said the government would monitor the impact of changes in world crude oil prices and take the necessary steps to ensure the people’s well-being and welfare continue to be protected. — Bernama