KUALA LUMPUR, July 13 — The retail price of RON97 will drop by five sen from RM4.80 to RM4.75 per litre, while those of RON95 petrol and diesel will remain unchanged for the week from July 14 to 20.

The Finance Ministry, in a statement today, said RON95 petrol and diesel will remain at RM2.05 per litre and RM2.15 per litre respectively even though the real market price of the two products had risen beyond the current ceiling price.

The ministry said the new price is based on the weekly retail prices of petroleum products in accordance with the Automatic Pricing Mechanism (APM) formula.

"The government will continue to monitor the trends of global crude oil prices and take appropriate measures to ensure the continued welfare and wellbeing of the people,” it said. — Bernama