It’s Friday, which means it’s time for another weekly fuel price update, and after the slight hike last week, RON 97 users will be glad to hear that the price of the fuel will be lowered for the coming week.

From tomorrow, October 26, RON 97 will be priced at RM2.59 a litre, which is nine sen decrease from the RM2.68 last week. As always, no change in the price of RON 95 petrol, with the fuel continuing to be sold at RM2.08 per litre, the maximum price that consumers will pay no matter how high market prices push pump prices.

Meanwhile, Euro 2M diesel will continue to retail at RM2.18 per litre, while Euro 5 diesel – which is 10 sen more than Euro 2M diesel – is priced at RM2.28 per litre.

Based on the finance ministry’s Automatic Price Mechanism (APM) calculations, RON 95 and diesel would be priced at RM2.29 per litre without the price cap in place. The government said it will absorb an estimated RM87.28 million in fuel subsidy costs from October 26 to November 1.

These prices will remain in effect until November 1, when the next set of fuel pricing adjustments will be announced. This is the 42nd edition of the current weekly fuel pricing format, which is announced every Friday. The weekly prices are in effect from Saturday until the following Friday. The system will end when the government begins its targeted petrol subsidy programme (PSP) for RON 95 petrol early next year.