The price of RON95, RON97 and diesel will increase by 25 sen as of 12.01am tonight.

The Domestic Trade, Cooperatives and Consumerism Ministry, in a statement Saturday, said with the increase, the price of both RON95 and diesel is RM1.95 per litre while RON97 is priced at RM2.25 per litre.

Minister Datuk Seri Hasan Malek, said the price was determined based on the average cost price of the product during February 2015 and currency exchange rates.

He said the government will monitor the market price development of the products' costs and currency exchange rates every time to set the retail price of petrol and diesel for the following months.

The minister reminded all oil companies and petrol station operators to comply with the new pricing, failing which, stern action would be taken against them.

Meanwhile, Deputy Finance Minister Datuk Ahmad Maslan in his Twitter tonight advised the public to plan their spending and expenses better following the petrol and diesel price increase.




Last Dec 1, the government had abolished the fuel subsidy and allowed for the retail petrol and diesel price to be set based on a managed float system.

Under the system, the retail price will be based on a monthly average fuel price.