The unstable oil price which is already hovering at US$105 is taking an effect on fuel pump price as reflected in the latest APM index for Malaysia.
Based on the weekly retail pricing of petroleum products using the Automatic Pricing Mechanism formula, the Ministry of Domestic Trade lists the retail prices of petroleum products from 3 March 2022 to 9 March 2022 as follows
1. retail price of RON97 increased by 16 sen from RM3.29 per litre to RM3.45 per litre;
2. retail price of RON95 petrol remains unchanged at RM2.05 per litre; and
3. retail price of diesel remains unchanged at RM2.15 per litre.
In order to keep some stability in the market, 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 APM for RON95 and diesel has increased beyond the current ceiling price. This will be continuously monitored as the fluctuation in price will be determined, the Government said it will monitor the trends of global crude oil prices and take appropriate measures to ensure rise in fuel is mitigated.
