Another Friday, and despite the developments that have unfolded in the past week, there is an update to the fuel price for the coming week (February 29 to March 6), with an increase in the price of RON 97 petrol on the cards.

Users of RON 97 will have to pay two sen more for the fuel, which will go for RM2.40 per litre in the coming week. There is no change to the price of RON 95 petrol, which continues to stay at its fixed price ceiling of RM2.08 per litre, as it was last week.

The price of Euro 2M diesel, however, has dropped by one sen to RM2.13 (RM2.14 last week), still below its RM2.18 capped price. This also means that Euro 5 diesel, which costs 10 sen more, will be priced at RM2.23 per litre.

The finance ministry said that based on Automatic Price Mechanism (APM) calculations, the government will absorb a total of RM6.12 million to subsidise fuel for the period of February 29 to March 6.

These prices remain effective until March 6, when the next fuel price update is announced. This is the eight edition of the current weekly fuel pricing format for the year and the 60th edition in total for the format, which runs from Saturday until the following Friday.