It’s Friday, and as such, time once again for another weekly fuel price update. Good news for RON 97 petrol users, because the fuel is cheaper this coming CNY week (January 25 to 31) at RM2.49 per litre, four sen less than last week.

With the petrol subsidy programme (PSP) remaining on hold, no change to RON 95 petrol pricing, which continues on at the fixed ceiling price of RM2.08 per litre. The same goes for Euro 2M diesel, which stays at RM2.18 per litre, while Euro 5 diesel – typically 10 sen more – remains at RM2.28 per litre.

According to the finance ministry, calculations from the Automatic Price Mechanism (APM) show that RON 95 petrol would be priced at RM2.19 per litre and Euro 2M diesel at RM2.26 per litre if there were no price caps in place. It added that for the period of January 25 to 31, the government will absorb a total of RM49.30 million to subsidise these fuels.

These prices remain effective until January 31, when the next fuel price update is announced. This is the fourth edition of the current weekly fuel pricing format for the year and the 55th edition in total for the format, which runs from Saturday until the following Friday.