New prime minister Tun Dr Mahathir Mohamad has just finished a press conference where he was asked if there will be any changes in fuel prices for the upcoming week, as today is the first Wednesday since Pakatan Harapan won in the general elections. The answer is no.

“No increase or decrease, if the global oil prices go up, the government will subsidise,” Mahathir said, without elaborating if the weekly price mechanism that has been in place since March 2017 will be scrapped, as most expect it to be.

This means that pump prices, which have been unchanged for seven straight weeks prior to this, will be maintained till further notice.

As a recap, RON 95 petrol is currently priced at RM2.20 per litre and RON 97 at RM2.47 per litre. Euro 2M diesel is RM2.18 per litre while Euro 5 diesel goes for RM2.28 per litre. These prices will not change come midnight. The last time there was a change in fuel prices was during the fourth week of March, which saw a 10 sen increase across all fuel types and grades.