KUALA LUMPUR, Nov 2 — The retail prices of petroleum products will remain unchanged for the period November 3 to Nov 9, 2022.

According to a statement from the Ministry of Finance (MOF) today, the price of RON97 will remain at RM3.95 a litre, RON95 (RM2.05) and diesel (RM2.15) a litre.

To protect the consumers from global oil price increase, the government will maintain the ceiling price of RON95 at RM2.05 per litre and diesel at RM2.15 per litre, even though the market price for RON95 and diesel has increased beyond the current ceiling price, as seen in the retail price of RON97 petrol which is set according to the market price.

"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,” said the MOF in a statement today.

Prices were set based on the weekly retail pricing of petroleum products using the Automatic Pricing Mechanism (APM) formula. — Bernama