Fuel prices will increase by 20 sen for both RON95 and RON97, while diesel will see a 10 sen increase in February. File Photo
KUCHING: Fuel prices of both RON95 and RON97 will increase by 20 sen for February, while the price of diesel will rise by 10 sen.
A local dealer, who did not wish to be named, said prices will definitely be revised upwards after midnight.
A source within the Malaysian Petrol Dealers Association (PDAM) confirmed that as of midnight, RON95 will be priced at RM2.30 per litre.
This marks a 20 sen increase from January prices.
RON97 will retail at RM2.60 per litre while diesel will be priced at RM2.15 per litre, marking a 10 sen increase. Euro 5 diesel will retail at RM2.25 per litre – a 10 sen rise.
The country’s petrol and diesel prices have been placed on a managed float system since Dec 1, 2014 following the removal of fuel subsidies.
The retail price of RON95 and diesel were set according to the average prices of fuel in the world market for a month, as well as being influenced by the ringgit’s movement against the US dollar according to a national paper.