February 2020 week 1 fuel price – RON 97 down 8 sen

Another Friday, and another round of the weekly fuel price update. More good news for RON 97 petrol users, because the price of the fuel has dropped again. It will be priced at RM2.41 per litre for the coming week (February 1 to 7), down eight sen from last week.

With the petrol subsidy programme (PSP) still on hold, no change to Euro 4 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 RM2.11 per litre and Euro 2M diesel at RM2.18 per litre if there were no price caps in place. It added that for the period of February 1 to 7, the government will absorb a total of RM10.43 million to subsidise these fuels.

These prices remain effective until February 7, when the next fuel price update is announced. This is the fifth edition of the current weekly fuel pricing format for the year and the 56th edition in total for the format, with runs from Saturday until the following Friday.