Well, it’s Friday, and guess what? Another weekly price announcement for RON 97 petrol. Yes, it was all supposed to conclude at the end of 2019, with things switching to the targeted petrol subsidy programme (PSP) this month.

That’s not happening, the government having announced on December 30 that the implementation of the PSP has been postponed to a later, unspecified date, and so this means that the existing structure continues until further notice.

Users of RON 97 will have to pay more for the fuel in the coming week, with the fuel being priced at RM2.65 for the January 4 to January 10 period, which is two sen more than last week.

As usual, no change to RON 95 petrol, which continues to stay at its fixed price ceiling of RM2.08 per litre. It’s the same for diesel – the price of Euro 2M diesel remains at RM2.18 per litre, and Euro 5 diesel, which costs 10 sen more, stays capped at RM2.28 per litre.

According to the finance ministry, Automatic Price Mechanism (APM) calculations show that RON 95 and diesel fuels would be priced at RM2.35 and RM2.43 per litre respectively if there were no price cap in place. It added that for the period of December 21 to 27, the government will absorb a total of RM128.24 million to subsidise these fuels.

These prices will remain effective until January 10, when the next fuel price update is made. This is the first edition of the existing weekly fuel pricing format for the year, and the 52nd outing in total for the format, which runs from Saturday until the following Friday.