It’s Friday, and time once more for the usual weekly fuel price update. There is no change in the price of petrol, but diesel is cheaper yet again for the coming April 25 to May 1 week.

The ministry of finance has announced that the price of Euro 4M RON 95 petrol continues on as it was last week, at RM1.25 per litre. Similarly, there is no change in the price of RON 97, which remains at RM1.55 per litre.

As for Euro 2M diesel, that has dropped by three sen to RM1.40 per litre (previously, RM1.43). This means that Euro 5 diesel, which costs 10 sen more than Euro 2M diesel, is priced at RM1.50 per litre for the coming week.

The cheap fuel is a result of global crude oil prices continuing to remain flat through oversupply and low demand, despite an attempt to push up prices recently with the announcement of the biggest production cut in history by OPEC.

The cuts have not been enough to offset the huge drop in worldwide demand, with Covid-19 having grounded aviation and limited the movement of surface travel and vehicular use in many places. Essentially, the virus continues to dictate terms.

These prices remain effective until May 1, when the next fuel price update is announced. This is the 16th edition of the weekly fuel pricing format for the year and the 68th edition in total for the format, which runs from Saturday until the following Friday.