The downward trend has finally stopped and after midnight today, the price of RON97 petrol goes up by 11 sen to RM2.49 a litre. The price at the pumps will be effective till July 5, 2019.
As for RON95 petrol and diesel, the Finance Ministry reveals that at least RM75.16 million will be spent on subsidies to maintain the current prices at RM2.08 and RM2.18 a litre, respectively. The bulk of the subsidies (RM54.52 million) will be used for RON95 petrol.
For an idea of how much you would have to pay if there was no subsidy for the two fuels, the price of RON95 petrol would be RM2.19 a litre while diesel (the Euro2M grade) would be RM2.28 a litre. This is determined by the formula used for the Automatic Pricing Mechanism (APM) that was adopted many years ago.