Happy Chinese New Year, folks. It’s another Friday, and with that comes the usual weekly fuel update announcement. Unfortunately, motorists will usher in the Year of the Metal Ox by having to pay more for fuel, with prices going up across the board in the coming week.
The ministry of finance has announced that for the February 13 to 19 week, the price of Euro 4M RON 95 petrol will be increased by three sen to RM1.96 per litre (RM1.93 last week). Euro 4M RON 97 is also going up by three sen, its price increasing from RM2.23 to RM2.26 per litre.
Diesel users are also set to pay more – Euro 2M diesel is going up by four sen, increasing from RM2.11 per litre to RM2.15 per litre. Accordingly, Euro 5 diesel, which costs 10 sen more per litre than Euro 2M, also sees a four sen increase, going up from RM2.21 to RM2.25 per litre.
These prices will remain in effect from midnight tonight until the following Friday, February 19, when the next round of fuel price updates will be announced. This is seventh edition of the weekly fuel pricing format this year, and the 110th in total since its introduction at the beginning of 2019.
Earlier this week, the government announced that it had revised the ceiling price for RON 95 petrol, lowering it by three sen to RM2.05 per litre (previously, RM2.08). The price cap for Euro 2M diesel has also been revised to RM2.15 per litre (previously, RM2.18). These prices are the maximum consumers will have to pay if market prices push the pump prices above that price level, with the government covering the difference through subsidies. Judging by the trend, it looks as if we are fast approaching that threshold.
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