KUALA LUMPUR, July 27 — The retail price of RON97 will drop by 10 sen from RM4.65 to RM4.55 per litre, while those of RON95 petrol and diesel will remain unchanged for the week from July 28 to August 3.

The Finance Ministry in a statement today said the price of RON95 petrol and diesel will remain at RM2.05 per litre and RM2.15 per litre respectively albeit the real market price of the two products had risen beyond the current ceiling price to protect consumers from the global oil price hike.

The ministry added the prices were set 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 well-being of the people,” it said. — Bernama