Last week, the government announced that the price of RON 97 petrol will be floated according to market prices beginning from June 7. This has been initiated according to plan, with the price of the fuel having been revised as of midnight.

As of today, RON 97 is priced at RM2.66 per litre with zero-rated GST – this is an increase of 19 sen over the RM2.47 per litre it has been at since the fourth week of March, when the last price revision of the now-defunct weekly fuel price adjustment mechanism was carried out. The price will be in place till June 13, and there will be RON 97 price announcements made every week.

The price adjustment for RON 97 should also result in related movement for unregulated fuels such as Petron Blaze 100, which was priced at RM3.08 per litre, and Shell V-Power Racing, which was priced at RM3.12 per litre at the last known juncture.

UPDATE: Shell V-Power Racing has had its retail price at the pump increased to RM3.36 per litre, an increase of 24 sen from before. Petron Blaze 100 remains priced at RM3.08 per litre at this point.

There is of course no change to RON 95 and diesel prices, which remain fixed in line with the government’s stand on the matter – RON 95 continues to be priced at RM2.20 per litre and Euro 2M diesel at RM2.18 per litre, while Euro 5 diesel is priced at RM2.28 per litre at the pump.