The retail price of RON 97 petrol will be RM2.60 per litre effective tomorrow, July 5. This is a 20 sen reduction from the previous RM2.80 per litre.

This adjustment comes nearly a month after the pump price of RON 97 had been lowered by 10 sen from RM2.90 per litre. Second Finance Minister Datuk Seri Ahmad Husni Hanadzlah said that the reduction was made in line with the dip in the average global oil price.

Unlike the regulated and subsidised RM1.90 per litre RON 95, the pricing of RON 97 is based on a managed float, whereby the price is determined according to market forces.