Another Friday, and so it’s time for the usual weekly fuel price update. Good news for RON 97 users, because the fuel is cheaper this week.

From July 27, RON 97 will be priced at RM2.56 a litre (down 11 sen from the RM2.67 last week). No change of course for RON 95 petrol, which continues on at RM2.08 per litre, the maximum price consumers pay no matter how high market prices push pump prices.

It’s the same for Euro 2M diesel, which continues to retail at RM2.18 per litre, and Euro 5 diesel – which is 10 sen more than Euro 2M diesel – is priced at RM2.28 per litre.

The finance ministry says that according to Automatic Price Mechanism (APM) calculations, RON 95 petrol would be priced at RM2.26 per litre while that for diesel would be at RM2.31 per litre without the price cap in place. The government added that it will absorb an estimated RM90.48 million in fuel subsidy costs for the period July 27-August 2.

These prices will remain in effect until August 2, when the next set of fuel pricing adjustments will be announced. This is the 29th edition of the weekly fuel pricing format, which is announced every Friday. The weekly prices are in effect from Saturday until the following Friday.