KUALA LUMPUR, May 31 — The retail price of RON97 increased by two sen per litre from RM3.35 to RM3.37 for the period June 1 to 7.

The Finance Ministry in a statement today said the retail prices of RON95 and diesel remain unchanged at RM 2.05 per litre and RM 2.15 per litre respectively.

"To protect the consumers from the increase of global oil price, 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 both products has increased beyond the current ceiling price,” it said.

The statement said the weekly retail prices were set based on the Automatic Pricing Mechanism (APM) formula.

MOF said government will continue to monitor the trends of global crude oil prices and take appropriate measures to ensure the welfare and well-being of the people continue to be protected. — Bernama