Weekly retail prices of RON95, RON97 and diesel down — KPDNKK sec-gen

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KUALA LUMPUR: The weekly retail prices for RON95 drops 17 sen to RM2.13 per litre and RON97 by 19 sen to RM2.41 a litre, while the price of diesel drops nine sen to RM2.11 per litre, effective today.

Domestic Trade, Cooperatives and Consumerism Ministry (KPDNKK) secretary-general Datuk Seri Jamil Salleh said the announcement on the weekly prices of petrol and diesel would be made every Wednesday from today.

“The prices will take effective at 12.01 am on Thursday (March 30, 2017). The calculations for the subsequent weeks will use the processed petroleum

product average cost and the currency rate for a one-week period,” he said in a news report on TV1 last night.

Jamil said implementation of the weekly controlled floating method for the fixing of

the prices was done to replace the previous method, which was on monthly basis, as announced by KPDNKK Minister

Datuk Seri Hamzah Zainudin on March 22.

He said the government believed the new method would impact better on consumers because the period to calculate processed petroleum products

average cost and the foreign currency exchange rate became shorter, for only seven days. — Bernama